Realty sector betting on affordable housing for sales

The Real Estate Industry is betting on the affordable housing segment to push sales and reduce inventory pile-up in the next six-nine months. More than 4 lakh units, of which around half will be affordable, are expected to be delivered by March 2020. The overall unsold inventory is around 7.79 lakh units, of which 3.93 lakh units, or roughly 51%, is affordable.

As stated in the report, more than 4.5 lakh affordable housing units are likely to be delivered in the next 15 months.  In affordable, around 2.04 lakh units (26.2% of total unsold stock) is in the less than Rs 25 lakh category, while another 1.89 lakh (24.3%) is in the Rs 25-45 lakh category. Also it is expected that the country’s nine major property markets to see delivery of around 7.95 lakh units between October 2019 and December 2020. Of this, over 3.1 lakh units are set to enter during October-December 2019, while 4.83 lakh units would be delivered through the course of 2020.

Pradeep Aggarwal, Co-Founder & Chairman, Signature Global and Chairman- ASSOCHAM National Council on Real Estate, Housing and Urban Development, said, “Over the last few years, the realty sector is witnessing the good sales in affordable housing segment, so this way we are focusing more on completion of projects and get it delivered to customers on time.”

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