NCR and MMR Lead Affordable Housing in the Last 5 Years - CII-ANAROCK Report

/ -- NCR and MMR account for 55% share of total 6 lakh affordable units launched across the top 7 cities; NCR saw maximum supply
Of the total 3.98 lakh units sold in sub INR 40 lakh category, NCR & MMR hold 57% share
Pune comes next with 1.13 lakh units launched and approx. 75K units sold in the affordable segment
Bengaluru, Chennai & Hyderabad saw the least activity in the affordable segment
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Anuj Puri, Chairman - CII Real Estate Confluence 2019 and Chairman - ANAROCK Property Consultants, says, "The 'Housing for All by 2022' mission threw a much-needed lifeline to the affordable housing segment. The term 'affordable' has become respectable and builders, who earlier shied away from it, now hold huge portfolios in this category. This segment grew tremendously on the back of multiple sops introduced to both buyers and developers over the last five years."

"The anticipated 8-10% annual growth of this segment is also luring investors," says Puri. "Data further suggests that out of the total 15.3 lakh units launched across the top 7 cities between 2014 and 2018, affordable housing contributed about 6 lakh units - 39% of the overall supply. The rise in affordable housing supply has also helped improve sales numbers in later years, indirectly resulting in a 16% drop in unsold inventory between 2016 and 2018."
Other Report Highlights:
The current urban housing shortage in India is about 18.78 million homes, of which Maharashtra targets to develop 1.94 million units by 2022. The share of affordable housing in MMR rose from 41% in 2013-14 to 55% during 2015-18 as developers went back to their drawing boards to focus more on this segment and tap its potential. MMR's Peripheral Central Suburbs dominate the city's affordable housing supply with a 55% share of launches in this segment between 2013 and 2018. North Pune is the dominant zone for affordable housing supply in this city, accounting for 66% of the total supply in the region between 2013 and 2018. Micro markets such as Badlapur, Neral, Vangani, Panvel and Ambernath in MMR and Wagholi, Talegaon Dabhade and Moshi in Pune are some of the most buoyant affordable housing locations Download the report https://api.anarock.com/uploads/research/affordable-housing-report.pdf

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