Despite all these upheavals and market realignments in the past three years, India's housing market remained remarkably resilient and even thrived. However, there seems to have been one major 'fatality' - affordable housing. Once the source of considerable political hype, this segment is not merely just languishing today - it seems to be in the ICU. What happened?
As we usher in our 74th year of independence, there is still a long way to go. And yet, despite the various upheavals to date, the foundation upon which to build a stronger and more inclusive industry has never been stronger.
In a big move, the government has announced the one-year extension of the CLSS scheme up to March 2021. This will help push demand for affordable housing.
The top 7 cities may see nearly 2.75 lakh new ready-to-move (RTM) homes over the next one year, provided developers stay on schedule.