Affordable homes in short supply
A research report from PropEquity Analytics finds that the reluctance of developers to launch affordable housing projects has led to a shortage of affordable homes in metro cities.
Against a demand for 636,000 homes of Rs 20-40 lakh in the NCR, MMR, Bengaluru, Hyderabad and Chennai, only 231,000 are available. In the category of Rs 10-20 lakh, demand in the five metros is for 1.7 mn homes, while only 86,000 are available. Developers are avoiding affordable housing projects because of long delays in getting approvals from the respective government agencies and also because of high land cost.
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