The supply of affordable housing -- units costing less than ₹40 lakh -- in India's top six cities declined from one-fourth of total in the first quarter of calendar year 2022 (Q1CY22) to around 13 per cent in Q3CY24, said real estate companies that find such projects unviable due to costs.
In the first quarter of calendar year 2022, affordable houses comprised 25.44 per cent of all new launches in Delhi-National Capital Region (NCR), Bengaluru, Pune, Hyderabad, Chennai, and Kolkata. The share declined to 18.03 per cent in Q1CY24 and then to 13.24 per cent in Q3CY24, according to Anarock Research. Supply improved in the Mumbai Metropolitan Region (MMR).
On average, 21.06 per cent of all new launches were in the affordable segment in the first nine months of 2022. It fell to 18.42 per cent in the same period in 2023 and later to 16.70 per cent in 2024.
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