Rise in Demand for Affordable Housing

The optimism for the affordable housing sector is picking up. Affordable housing will remain the dominant segment in the coming years with a total of 10 million PMAY (U) units to be delivered by 2020 itself which already to set for record the growth.

As per the Report- Housing sales in the national capital region went up by 6 per cent to 46,920 units during 2019 on higher demand for affordable homes and completed flats as well. Sales in Delhi-NCR increased to 46,920 units from 44,300 units. Also, the prices in Delhi-NCR remained stagnant at nearly Rs 4,600 per sq ft, while unsold inventories fell by 6 per cent to 1,75,079 units from 1,86,714 units.

Mr. Pradeep Aggarwal, Co-Founder & Chairman, Signature Global, and Chairman, ASSOCHAM National Council on Real Estate, Housing and Urban Development, says, “The government is focusing more on affordable housing as the mission is to deliver ‘Housing for All by 2022’. Steps being taken by the Central as well as various state governments point to the fact that the target will be achieved by the end of the term of this new government. Focus is already on affordable housing and that is the reason there are so many schemes floated to help fill the demand gap.”

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