Mid Income housing segment growing large

Q: Hey heard that mid-income housing in India is growing rapidly. Kindly share few details with me.

Pravakar Saxena, Pune

18th November 2013

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All the residential projects are registering rapid construction and also many of them are lined up for possession this year.I think Pune is offering for both mid-income and luxury projects as well. But in places like an apartment in Mumbai would cost Rs 1.5 crore or above .

Kalki K,

18th November 2013

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Hey Kalki, I think builders are going in shorter periods for construction, and timely delivery. Also adopting new technologies and processes to improve returns which will reduce costs and improve affordability for the buyers.

Joydeep D,

18th November 2013

In these five years it is likely to be concentrated the top eight cities including Mumbai, Bangalore, Chennai, Pune, and Kolkata. The total demand in the top 8 cities the demand for mid-income housing is estimated to be highest at 1.3 million units i.e followed by demand in the high-end segment, at 4,51,000 units, and 3,62,000 units in the low-end segment.

Supratim,

18th November 2013

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Hey guys the highest sales in residential real estate continue to be in the mid-income housing space as this is not beacuse affordable housing is no longer in demand,..but it us beacuse the target for mid income housing can qualify for home loans. Also home loans from banks and financial institutions have given a boost to mid income hosuing in recent years in India.

Joydeep D,

18th November 2013

@Pravakar : Yes the affordable and luxury housing segments were driving India's realty market in the current economic downturn. Indian cities are estimated to see additional demand for housing i.e around 2.1 million units in the next five years, and that more than 50% of this would be in the mid-income segment. :)

Vivek Kulkarni,

18th November 2013

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