India Affordable Housing Market [2028]: Dissecting Size, Share, and Competitive Intelligence - A TechSci Research ReportPosted by Kumar on April 4th, 2024 In the ever-evolving landscape of India's real estate sector, affordable housing emerges as a critical component, addressing the housing needs of diverse socio-economic segments. Defined as housing available to individuals with earnings below the median wage, affordable housing plays a pivotal role in ensuring access to safe and decent accommodation for low-income and middle-class households across the country. The TechSci Research report titled "India Affordable Housing Market - By Region, Competition, Forecast & Opportunities, 2018-2028F" sheds light on the multifaceted dynamics of this burgeoning market. Government Initiatives and Investments: The Indian government has undertaken several initiatives and investments to address the challenge of affordable housing. The Pradhan Mantri Awas Yojana (PMAY) aims to provide affordable housing for the urban poor, while the Credit Linked Subsidy Scheme (CLSS) offers interest subsidies to eligible beneficiaries for purchasing or building a house. Additionally, the Affordable Rental Housing Complexes (ARHC) scheme aims to provide affordable rental housing for urban poor and migrant workers. Browse over 38 market data Figures spread through 113 Pages and an in-depth TOC on the "India Affordable Housing Market" - https://www.techsciresearch.com/report/india-affordable-housing-market/4800.html The National Urban Housing Fund (NUHF) and Pradhan Mantri Gramin Awas Yojana (PMGAY) plan further contribute to the provision of affordable housing for both urban and rural populations. These initiatives, coupled with financial aid for construction or renovation provided to eligible beneficiaries, have significantly increased the availability of affordable homes in India. However, there is a continued need for sustained efforts to ensure universal access to safe and affordable housing across the country. Market Segmentation and Regional Dynamics:
Impact of Affordable Housing on Socio-Economic Development: The availability of affordable housing has far-reaching implications for socio-economic development. It fosters inclusive growth by providing shelter to marginalized communities and reducing homelessness. Affordable housing initiatives create employment opportunities in the construction sector, contributing to economic growth and poverty alleviation. Moreover, access to affordable housing enhances social cohesion and stability, fostering vibrant and resilient communities. Competitive Landscape and Market Outlook: The competitive landscape of India's affordable housing market is characterized by the participation of both government agencies and private developers. Real estate developers such as Provident Housing, Casagrand, Shriram Properties, and Mahindra Lifespaces play a pivotal role in catering to the housing needs of diverse segments. Government-led initiatives and favorable policies continue to drive investments in affordable housing projects, fueling market growth. Benefits of the Research Report:
India's affordable housing market holds immense potential for addressing the housing needs of its burgeoning population. Government initiatives, coupled with private sector participation, are instrumental in driving market growth and expanding access to safe and decent housing. As the country continues to urbanize and industrialize, the demand for affordable housing is expected to remain robust, presenting lucrative opportunities for stakeholders across the real estate value chain. Through concerted efforts and strategic investments, India can bridge the housing gap and foster inclusive and sustainable urban development. Key market players in the India Affordable Housing market include:
“India Affordable Housing Market stood at USD 1824.35 million in 2022 and is expected to register a CAGR of 19.80% during 2023E-2028F owing to rising middle-class population, government initiatives and increasing working population. The Indian government has launched numerous initiatives such as Pradhan Mantri Awas Yojana (PMAY), Affordable Housing in Partnership (AHP), and Credit Linked Subsidy Scheme (CLSS), to encourage affordable housing for all. These efforts give financial help, subsidies, and tax benefits to developers and purchasers, therefore making it simpler to purchase affordable houses. Additionally, the Union Budget was planned in Budget 2023, offering a considerable boost to the affordable housing industry. The Pradhan Mantri Awas Yojana (PMAY) budget was increased by 66% over the past year. The Urban Infrastructure Development Fund (UIDF), which is likely to be employed to create urban infrastructure in Tier 2 and Tier 3 cities, was recently launched by the finance minister of the nation. Therefore, the market for affordable housing across the country is expected to rise during the forecast period, 2024-2028F,” said Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm. “India Affordable Housing Market Segmented By Providers (Government, Private Builders, Public-Private Partnership), By Income Category (EWS, LIG, MIG), By Size of Unit (Up to 400 square feet, 400-800 square feet, Above 800 square feet), By Location (Metro, Non-Metro), By Population (Slum Population, Non-Slum Population), By Region, Competition, Forecast & Opportunities, 2028F”, has evaluated the future growth potential of India Affordable Housing market and provides statistics and information on market structure, size, share, and future growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the India Affordable Housing market.
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