Affordable housing sales in seven major cities fall 18% in Jan-Jun

25 Jul 2023 CW Team

In the same period the previous year, sales of affordable housing totaled 57,060 units.

According to a survey by real estate consultant Anarock, the ratio of affordable housing in total house transactions declined to 20% in January-June from 31% in the previous year's corresponding period.

Total housing sales increased to 2,28,860 units in January-June this year, up from 1,84,000 units the previous year.

Anarock chairman Anuj Puri attributed the declining share of affordable homes in overall sales to changes in demand dynamics caused by the COVID pandemic, as well as a number of other issues encountered by developers and customers.

Stating that the land cost that has gone up significantly, Puri said, “It is becoming increasingly unviable for developers to buy land at higher prices to build low-margin mass housing.”

Other input costs have also risen inexorably in the last few years, he added.

“Launching affordable housing projects has become unattractive,” Puri said.

Prospective home buyers in the affordable segment are postponing their purchase decision due to the rise in the housing prices as well as interest rates on home loans, Anarock said.

On the supply side, the data revealed that the share of affordable homes in total new launches across seven cities was 18% in January-June, compared to 23% the previous year.

According to Anarock data, sales of affordable homes in Delhi-NCR decreased to 8,860 units in the January-June period this year, down from 14,150 units the previous year.

During the review period, sales in the Mumbai Metropolitan Region fell slightly to 17,470 units from 17,650 units.

In Bengaluru, sales of low-cost homes fell to 3,270 units from 3,990 units.

In Pune, this category sold 9,700 units, down from 11,240 units in the first half of last year.

Indian govt increases EWS income slab for Affordable Housing in Mumbai

According to anarock, sales in the affordable housing category priced below Rs 40 lakh fell 18 percent to 46,650 units in the January-June period across seven major cities due to fewer supply and a hike in borrowing rates. In the same period the previous year, sales of affordable housing totaled 57,060 units. According to a survey by real estate consultant Anarock, the ratio of affordable housing in total house transactions declined to 20% in January-June from 31% in the previous year's corresponding period. Total housing sales increased to 2,28,860 units in January-June this year, up from 1,84,000 units the previous year.Anarock chairman Anuj Puri attributed the declining share of affordable homes in overall sales to changes in demand dynamics caused by the COVID pandemic, as well as a number of other issues encountered by developers and customers. Stating that the land cost that has gone up significantly, Puri said, “It is becoming increasingly unviable for developers to buy land at higher prices to build low-margin mass housing.” Other input costs have also risen inexorably in the last few years, he added. “Launching affordable housing projects has become unattractive,” Puri said. Prospective home buyers in the affordable segment are postponing their purchase decision due to the rise in the housing prices as well as interest rates on home loans, Anarock said. On the supply side, the data revealed that the share of affordable homes in total new launches across seven cities was 18% in January-June, compared to 23% the previous year. According to Anarock data, sales of affordable homes in Delhi-NCR decreased to 8,860 units in the January-June period this year, down from 14,150 units the previous year. During the review period, sales in the Mumbai Metropolitan Region fell slightly to 17,470 units from 17,650 units. In Bengaluru, sales of low-cost homes fell to 3,270 units from 3,990 units. In Pune, this category sold 9,700 units, down from 11,240 units in the first half of last year.See Also:Smart Bangalore & Karnataka Govt launch housing projectIndian govt increases EWS income slab for Affordable Housing in Mumbai

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..