Anuj Puri, Chairman – ANAROCK Property Consultants
The massive gap of affordable housing has drawn the Government of India’s focused attention and resulted in many initiatives to such housings.
Cognizant of the constantly growing demand for affordable homes across the country, the market has started responding with a significant rise in new launch supply in this segment over the last one year.
On examining the composition of the new launch supply across the top Indian cities in the current year (till Q3 2017), it emerges that affordable housing (units with average ticket sizes below Rs. 40 lakh) clearly leads the pack. It constitutes more than half (52%) of the overall new supply:
The chart below shows the share of newly-launched affordable housing units (< Rs. 40 lakh) during Q1- Q3 2017 across all the top cities.
Bangalore, MMR, NCR, and Pune are close together in terms of volumes, accounting for around 16 to 19% share of units in the sub-40 lakh price bucket.