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  • 2017
  • September

Affordable Housing for the Middle Class

What does affordable housing in Gurgaon, with its high-lifestyle, urbanization, and posh-societies look like?” You may think, given that Residential Flats varies in its meaning for different demographic profiles. Especially in the Indian real estate market, affordable housing has a connotation for housing for the lower income group (LIG), by which they too can enjoy a comfortable living and security. With the incumbent government’s focus on this section and more on the affordable housing, it seems like the real estate sector has been able to get the boost that it had been waiting for of late.

However, there is an important trend that needs to be taken note of before the government claims that its affordable housing project is a success. The term affordable housing, in different contexts, also has a local meaning. According to this, affordable housing includes housing options for a segment of population that can become potential home buyers in a city. If we take this definition into consideration, there is a sizeable population in every city, which although it will not identify with or fall under the LIG, is equally incapable of allotting a large budget for buying homes. It is not only sensitive and cost-wary but is looking forward to finding a house of a decent budget-size within the realms of the city. A typical example is of the residential flats in Gurgaon, which although are well-furnished, but do not still fall under the budget for the middle class.

When we take this population’s demands and needs a little more seriously, we find that there is a dearth of properties in good locations within the city, which buyers can afford. These buyers often have a budget of INR 30-40 lakhs, but more cities including Delhi NCR have a deficit in properties which match this budget range. Usually properties which are around INR 20 lakhs are still on the outskirts lacking good transportation and other facilities required by the urban middle class. This means that there is indeed a requirement for more housing under the affordable housing section, where different demographic profiles can find properties for themselves.

There is an urgent need for developers to come up with budget housing projects in the larger cities. As modern India moves towards development and rising aspirations, affordable housing and the security that comes with it, is increasing. This appears to be a very high opportunity for developers who can count on a boost in the real estate industry. More absorption of the housing projects in the urban cities is also a strong indicator of the socio-economic growth in the country, thereby projecting a positive image. While the demand is strong and only increasing, there are a lot of policy-level changes that need to be introduced.

Plastic Recycling From Cars

Plastic is one of the most extensively used materials in the car body. It is gaining popularity among car manufacturers these days. One of the main reasons for this is the fact that lightweight of plastics makes the vehicle more fuel-efficient. Fuel efficiency is an attribute that addresses the economic and environmental concerns. The reasons are that a fuel-efficient vehicle releases a lesser quantity of exhaust and also reduces the consumption of fuel. However, when the car reaches its end of life, it is this plastic that becomes a challenge to dispose of as it is non bio-degradable.

Three of the most used types of plastic in a car include polypropylene, polyurethane, and PVC. Approximately 10% of a car’s body weight is constituted by plastic. An auto wrecker can recycle this plastic to generate an income from it.

Let us understand the how plastic is recycled from cars:

• When the car is sent for dismantling, the functional parts are detached from it.
• After this, the hazardous material is eliminated so that it doesn’t pollute the environment.
• After this, the body of the car comprising plastic and metallic parts is sent to a crusher.
• After they are flattened by the crusher, these parts are sent for shredding.
• The shredded plastic and metallic parts come out as a mixture of clumps. These need to be separated.
• Metals, plastics, and fibers are separated using different techniques. Some of these methods are floatation, magnetism, size filtering, and manual filtering, etc. These not only separate plastics from metal but also enable grouping different polymer types.
• After grouping, the plastics are fed to extruders. These melt the plastic into a liquid which can be formed into shapes.
• Some recycling centers shape the plastic as per the requirement of the client. While others produce plastic pellets which are sold in the market. These are used to form products of a variety of shapes.
• Depending on the usage the plastic is further processed. For instance, food packaging industry warrants the plastic to pass purity standards. Hence, it goes through extra processing to ensure that there is no contamination. Consequently, it is priced high.

Automobiles are one of the major sources of waste plastic. Plastic is non-biodegradable and can harm the environment. With the growing concerns for environmental protection, plastic recycling has become mandatory. Hence, plastic recycling is a great means to conserve the environment. Recycled plastic finds applications in a host of areas producing a wide range of products.

Altadena Real Estate – A Look at the Numbers

The real estate market in Altadena, CA is red hot. Homes for sale in Altadena command high prices and never stay on the market very long. Why? Both realtors and residents will answer that by stating: Altadena is a very special place to live, work and relax.

Altadena is charming community located directly north of Pasadena at the base of the Angeles National Forest San Gabriel Mountains. Altadena is an unincorporated and 14 miles northeast from Downtown Los Angeles. This warm, Mediterranean climate has hot and dry summers that average highs of 91 degrees. The winters are essentially warm and windy with the lowest average temperature of 44 degrees. Altadena averages 21 inches of rainfall annually.

According to the 2010 U.S. Census – Altadena had a population of 42,777 people. With 8.71 square miles to share there were 4,909.6 people per square mile. This is average for Los Angeles County. The population was more diverse compared to other areas of the county with the dominate ethnicity being White at 52.8%, followed by 26.9% Latino, 23.7% Black, 5.4% Asian and 0.7% American Indian.

The population of Altadena is well educated in comparison to the rest of the county with 45.6% of residents aged 25 and up with a four year degree and 87.9% with a high school diploma. In regards to the male population: 57.8% were married, 32.9% had never been married, 7.1% had been divorced and 2.1% were widowed. The female population had53.9% who were married, 24.4% had never been married, 12.4% were divorced and 9.4% were widowed. The average age of Altadena was 37, which is an older average age compared to the rest of Los Angeles County. 9.8% of the people in population were veterans and 20.8% of residents were born in a foreign country. The average commute to work was 27.5 minutes. Altadena has a Walk Score of 48 out of 100 meaning that it is a car dependent city.

The average household size was 2.8 people, which was 9% higher than the national average. Approximately 74.6% of residents owned their homes. This was 10% higher than the national average. 25.4% of the population rented from a house, apartment or condominium. The 2010 Census declared there being 15,518 households with a median household income of $83,917. This is high compared to Los Angeles County.

Altadena real estate isn’t cheap, however. The median price of homes for sale in Altadena is $780,000. This is 226% higher than the national average. However, the average home value is $731,400. The price per square foot is $485. The current housing market “temperature” is neutral. Last year the home values increased by 8.1% and Zillow predicts they will rise only 1.9% within the next year. The average monthly rent is $2,921. This is 53% higher than the national average. The current housing market health is 6.9/10. This is healthy score given by Zillow in comparison to other housing markets across the country.

According to Area Vibes, Altadena has a livability score of 77 – extremely livable. This is higher than the national average of 70. This comfortable, safe community will continue to flourish and grow and produce beautiful homes by its affluent residents. If looking to buy or sell real estate in Altadena, make certain you perform your due diligence and find an experienced realtor who specializes in the area.