According to latest reports, there has been a 4% decline in sales of affordable homes priced up to Rs. 60 lakh across India's top eight cities during Q1 2024, compared to the same period last year, indicating shifting market dynamics and consumer preferences in the real estate sector. Mumbai Metropolitan Region saw a modest increase, while Pune, Ahmedabad, Hyderabad, Chennai, Bengaluru, Delhi-NCR, and Kolkata experienced varying degrees of decline or growth.
Factors contributing to the decline include supply constraints with reduced new housing units, developer focus on luxury segments, and economic uncertainties post-COVID-19. Policy support, infrastructure investments, financial inclusion, and technology adoption are suggested to revive the affordable housing market, emphasizing the need for collaborative efforts among stakeholders to ensure sustainable growth in the sector.
To know about the complete details and analysis checkout- analyzing-the-decline-in-sales-of-affordable-homes-across-indias-top-cities-propequity-report
Cover image- mckissock.com
