Top seven cities have witnessed a tremendous 41% year-on-year jump in overall new housing launches, during the quarter ended June, with the maximum supply of affordable houses with prices less than Rs. 40 lakh
Affordable housing has seen a great demand and increased supply after a spate of policy reforms and schemes announced by the central government over the last few quarters.
According to reports, affordable houses, with the maximum supply and prices less than Rs. 40 Lakh witnessed a whopping 41% year-on-year jump in top seven cities. Resulting 100% increase in the affordable segment during the quarter as against the previous quarter. 3% rise in housing sales across categories from a year ago to 60,800 units.
A real estate specialist said, “While the sales numbers have been relatively slower, the positive impact of the policy reforms including RERA and GST has begun to bear fruit”.
These top 7 cities include Delhi-NCR, Mumbai Metropolitan Region, Chennai, Bengaluru, Pune, Kolkata, and Hyderabad. These cities have witnessed launches of around 50,100 units during the quarter.
Over the last few quarters, The central government has been consistently introducing multiple sops for affordable housing prompting both demand and supply in this segment, keeping in sync with its vision to provide ‘Housing for all by 2022’.