WHAT IS THE DIFFERENCE BETWEEN AFFORDABLE HOUSING AND LOW-COST HOSUING ?

Affordable and low-cost housing are often interchangeably used, but are quite different from each other. Low-cost housing is generally meant for EWS category and comprises bare minimum housing facilities while affordable housing is mostly meant for LIG and MIG and includes basic amenities like schools, hospitals and other community facilities and services

Parameters	Low-Cost Housing	Affordable Housing
Amenities	Bare minimum to none	basic
Targeted income class	EWS & LIG	LIG & MIG
Size of the dwelling unit	<=300 Sq. Ft.	300 – 1200 Sq. Ft.
Location	Generally within city but can also be located on city peripheries due to high cost of land	Within The City
Project developer	Mostly Government agencies	Private Developers and Government
Mostly available source of finance	Micro finance institutions Not exceeding 30 percent of gross monthly income	Traditional banking system
EMI to Monthly Income	Not exceeding 30 percent of gross monthly income	Not exceeding 40 percent of gross monthly income