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Affordable housing lacking in the country

Comments(2) Sub Category:Mumbai,Residential Real Estate Posted On: Sep 24, 2012

The State Bank of India (SBI) has recently made an announcement of cutting its base rate by 25 bps to 9.75 per cent.

Although it is likely to positively impact the home loan segment, most realtors and analysts feel that it will not prove to be a saviour for a majority of home owners in the country.

As prominent developers continue to shy away from ‘affordable housing’, real estate sector is losing out majority of prospective home owners due to shortage of affordable houses.

Hiranandani Constructions has recently been directed by the High Court to build 3,100 affordable homes in Powai. The major developer, along with others feel that lack of adequate enabling infrastructure in residential areas and rising land prices are making it hard for realtors to enter the segment.

To read more real estate news:

62% houses locked up in India

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