Pandemic distress and rising loan rates reduced affordable housing sales from 54% (2018) to 26% (2024), with developers focusing on luxury
India faces a 31.2 million affordable housing shortage by 2030, with a current deficit of 10.1 million as demand outpaces supply
Mumbai's launch prices rose 8% CAGR for <30 sq m units (2019-2024), while larger units grew 4.4%, deterring developers and buyers
Unaffordable housing erodes workers' wage premiums, raises employer costs, and enables exploitation by wealthy developers in a tight market
Expand housing schemes, develop satellite cities with robust infrastructure, and allow higher floor area ratios to maximise land use
Repurpose public lands, build worker housing near workplaces, and provide financing for developers and first-time buyers to boost affordable housing