Real estate
Lack of affordable houses in the urban areas of the country is becoming a serious problem. According to a new report, the demand for affordable houses in India is increasing, but the pace of making them has slowed down, which has created a big imbalance in the region. On the demand for the purchase of three houses, only one house is being available at an affordable price.
A report by the real estate company Night Frank India and the National Real Estate Development Council (Nareedco) stated that the situation in the eight major cities of the country Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune, Kolkata and Ahmedabad is worrying. Earlier in 2019, where more than one house was being built on the demand of each house, the figure has fallen to 0.36 in the first half of 2025 till June. This means that only one-third of the houses are being built compared to demand.
Demand increased, supply less
The report said that the current shortage of urban affordable houses in the country is 94 lakh units. Due to rapid growing urbanization, this deficiency can increase to three crore units by 2030. In the PTI report, Naradco President G Hari Babu said that the problem of shortage of cheap houses in India has once again come to light due to the report of Knight Frank and Nareedko. He informed that at present there is a shortage of 94 lakh houses in the country, which can increase to three crores by 2030.
It is a matter of concern that the demand for affordable houses is increasing, but their number is decreasing. Apart from this, the investment of private companies is also very low, due to which this problem is increasing further. Shishir Baijal, chairman of Knight Frank India, said that the affordable house is not just a social need, but also an economic need. Government support in favor of demand has been commendable, but now it is very important to remove the obstacles of supply.