Affordable houses are no more affordable to buyers
The Indian developers mainly target luxury, high-end and upper-mid housing segment. Meanwhile the housing requirements of the lower middle-income and lower income groups that are grossly neglected in India.
There is an ever-growing housing shortage since the cities fall short of planned housing for low-income group.
According to the report by real estate services firm Jones Lang LaSalle (JLL) India, the country falls short by 26.5 million housing units.
As per the estimates of the technical group constituted by the ministry of housing and urban poverty alleviation (MHUPA), by the end of 2012, there will be 26.53 million dwelling units for 75.01 million households.
This shows the extent of importance of affordable housing schemes in urban India today. The housing stock in urban India stood at 78.48 million for 78.86 million urban households, according to the census data.
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Source: Money Life
Affordable Housing, census data, high-end, housing segment, housing shortage, India, Indian developers, Jones Lang LaSalle (JLL) India, Luxury, middle-income, Real estate services, the ministry of housing and urban poverty alleviation (MHUPA), urban India
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