Niche segment to propel real estate industry: RHB
In a slump hit real estate market,the Rajasthan Housing Board seems to be shifting its focus towards the higher income segment. In the last fiscal year, work on Higher Income Groups’ HIG houses was initiated more than all other segments combined. Over the years the board has been more keen on projects on Self Finance Scheme basis, while generation of affordable housing is left mostly to public private projects under other schemes.
“The RHB over the past few years as part of an undisclosed policy has otherwise refrained from initiating new projects as real estate market underwent a slump. Meanwhile, generation of housing for higher income segment still remains more attractive segment,” says an RHB official.
Notably, the board primarily had focus on economic weaker section (EWS) and Lower Income Group (LIG). Of the total number of housing units generated by the board since its constitution, HIG segment compromises only 8.8 per cent while LIG compromises 27.78 per cent and EWS with 32.44 per cent has the maximum share.
A change in the market scenario is though indicating towards redefining the role of the board.It has been to tap this potential in the upper segment that the urban development department earlier this year …read more
