An EWS (Economically Weaker Section) flat is typically intended to provide affordable housing for individuals or families who fall within the lower income bracket.
Benefits of Buying an EWS Flat:first of all it is affordable.
In some cases, governments or housing authorities may provide subsidies, grants, or loans to make EWS flats more affordable. While EWS flats are generally priced lower, there is still potential for property value appreciation over time, especially if the property’s location gets development and growth.
Disadvantages of buying an EWS Flat:EWS flats might have restrictions on resale or renting, imposed by housing authorities. EWS flats are typically smaller in size, which could lead to space constraints for you and your family. Living in an EWS community might expose you to a particular socio-economic environment that could influence your overall living experience. There might be specific eligibility criteria you need to meet to purchase an EWS flat.
Ensure you understand and meet these requirements before proceeding. Government policies regarding these flats can change over time, which will affect your ownership rights or the value of the property. If you decide to sell your property in the future, the fact that it is an EWS flat may impact its resale value.
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Authors Of The Question
My new flat of 602 sqr feet from land owners share has been categorized as EWS flat. Is it safe to buy, what are the perks or disadvantages?
Ashwin
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1 Answers
1 Year
2023-08-18T06:42:45+00:00 2023-08-18T09:33:50+00:00Comment
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