Realtors join fray in affordable housing segment, take the middle path

According to the Ministry of Housing and Urban Poverty Alleviation, affordable housing is defined on the basis of property size, price and buyers' income

So far the demarcation in the real estate sector was clear —premium housing catered to high-end customers and affordable segment was for low-income consumers.

Realtors have now embarked on a middle path — the premium affordable segment. It stands at the lower end of the premium segment, averaging a price range of  Rs 5 million or more, but a far cry from the regulatory definition of “affordable housing”.

“In the context of the Indian real estate sector, the term ‘affordable’ is about as extensively misused as ‘luxury’. Builders have been generously using the ‘affordable’ tag for quite some time now,”