India Affordable Housing Market to Grow at an Impressive Rate until 2025
by Mack Nene SEO | Digital MarketingIncreasing disposable income to drive the growth of India
affordable housing market
According
to TechSci Research report, “India Affordable Housing
Market 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 v/s Non-Metro), By
Population (Slum Population v/s Non-Slum Population), By Region, Forecast &
Opportunities, 2025”, the India affordable housing
market is expected to grow at an impressive rate during the forecast period on
account of the decreasing average household size. A paradigm shift has been
observed from joint family/ large family to nuclear families, who are coming
out of their families to have an independent living, thereby increasing the
demand for affordable housing in the country. Also, culture of home ownership prevalent
in the Indian society, significantly drives the market growth. Additionally,
increasing urbanization is expected to fuel the market growth over the next
five years. Besides, growing prices of premium houses and properties increase
the affordability and budget constraints, thereby positively influencing the
market growth. However, land scarcity in the country might hamper the market
growth through 2025. Also, location plays an important role. The location
should be close to the city center and all the major important amenities should
be accessible from there. This might also pose a challenge to the market
growth. Besides, loan approval issues due to associated risks might further
restrict the market growth over the next few years. Furthermore, limited
participation of private players and builders is further expected to impede the
market growth.
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The India affordable housing market is segmented based on providers,
income category, size of unit, location, population, company, and region. Based
on providers, market can be categorized into government, private builders and public-private
partnership. Here, the government segment is expected to dominate the market.
This can be ascribed to the fact that private builders avoid entering into such
projects since they are time consuming, especially the approval procedure and offer
low profit margins. On the other hand, the public-private partnership segment
is expected to hold the largest share and is expected to emerge out as the
leading segment in the affordable housing market during the forecast period. This
can be ascribed to the fact that there is no land issue as the government has
land and the private players can get it simply by bidding. Also, the government
offers them subsidies, tax benefits and reduces the duties. This in turn
decreases the overall developmental costs. Based on income category, the market
can be categorized into EWS, LIG and MIG. Here, the MIG segment is expected to
dominate the market owing to the increasing disposable income and purchasing
power of this category.
TATA Housing Development Co., Ltd., Migsun Group, Nila Infrastructures
Ltd., WorldHaus Construction Pvt. Ltd., Larsen & Toubro Ltd., Shapoorji
Pallonji & Co. Ltd, Godrej Properties, DLF Group, Prestige Group, Unitech
India and others are some of the leading players operating in India affordable
housing market. The companies operating in the market
are using organic strategies such as product launches, mergers and
collaborations to boost their share.
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“India affordable housing market is
expected to witness significant growth during the forecast period on account of
the associated low development costs. The economic slowdown of 2009 brought the
concept of affordable housing in focus. Ever since the government is investing
and forming policies & schemes to popularize this concept. Additionally,
supportive government policies such as Pradhan Mantri Awas Yojana, Rajiv Gandhi
Awas Yojana, Affordable Housing in Partnership Scheme, Integrated Housing &
Slum Development Programme, among others, are expected to create lucrative
opportunities for the market growth.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based India management consulting firm.
“India Affordable Housing Market 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 v/s Non-Metro), By Population (Slum Population v/s Non-Slum Population), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of India affordable housing market and provides statistics & information on market size, structure and future market 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 India affordable housing market.
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Created on May 28th 2020 04:06. Viewed 309 times.