Affordable housing driving residential realty recovery

Despite Corona pandemic, the good response to affordable and mid-segment housing shows that this segment will be driving residential recovery.

 According to Q3,2020 report, sale of affordable and mid-segment units priced upto Rs 80 lakh comprised 72%. These constituted 23290 units of total supply of units between July- September 2020.Nearly 75% of new launches during Q3, 2020 were in the affordable & mid-segment units priced up to Rs 1 crore. The quarter witnessed sales outpacing new launches . On a quarter to quarter basis, sales in Delhi- NCR rose by 38% during July- September quarter.

 Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” There is a huge pent up demand for affordable and mid-segment housing. Reasonable and stagnant prices, below 7% interest rate, availability of ready inventory with no GST is converting pent up demand into sales. Deals & discounts and easy payment plans will further push sales in festive season, facilitating realty recovery .

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