The market for affordable housing is robust, and in the coming months, there will be more movement. People have realized the importance of owning a home, and this feeling is going to persist. Despite the lower-than-normal sales traffic in the real estate sector, the affordable segment has emerged as the hot cake for the potential homebuyers. Post-Unlock, the segment witnessed improvement in the number of visits to the site, and the properties sold immediately first because of the pent-up demand and realization of people to own their home
According to the annual real insight report, affordable projects continue to be the dominant segment in this market, as 87% of the new launches were made in the up to Rs 45-lakh price bracket during the quarter. Looking at the response to affordable projects in the post-pandemic months and with some developers getting over-subscription in their projects, the year 2021 is going to be phenomenal for this segment.
Mr Pradeep Aggarwal, Founder & Chairman, Signature Global Group, Chairman, ASSOCHAM, National Council on Real Estate, Housing and Urban Development, says, “The market for affordable housing has become stronger and in the coming months, there will be more movement. People have realized the importance of owning a home, and this feeling is going to persist. We are coming up with multiple projects, and the response that we are getting is an indication that the affordable housing segment will not face any problem.