"Affordable homes with Smart Spaces and Community living" -- so goes oft seen copy in real estate advertisements and marketing brochures. Pic courtesy: Wikimedia Commons, Amol Gaitonde. First, let us clear the misconception that affordable homes are related to the lower income group. The word affordability has been misused by many in residential real estate market today. Affordability in its true sense means what is affordable for people living in that locality and it is very contextual. A two crore 2 BHK in Lavelle road is affordable for people who are living in Lavelle road and the same two crore…
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