Affordable housing industry has emerged as the most vibrant and dynamic segment of the Indian housing sector. With the entry of various real-estate developers and availability of financial options, affordable housing industry has witnessed astonishing growth in the past. This growth is largely attributed to the wide population base, rising income level, increasing trend of nuclear families and rapid urbanization. According to our new research report, the demand for affordable housing is escalating in India. Majority of this demand comes from low-income group which represents the most potential target segment for real-estate developers. Demand from mid-income group is also accelerating at a considerable pace. As per our estimation, the Indian affordable housing industry is expected to surge at a CAGR of more than 40% during 2012-2014.
Our comprehensive report, “India Affordable Housing Market Analysis”, deciphered that affordable housing can prove a huge platform for the market players to grow as there is a significant shortage for low-cost housing. To fill the demand-supply gap, government, real-estate developers and financial institutions are taking several initiatives that we have highlighted in our report.
On evaluating the affordable housing industry in India prudently, we observed that there exists a tremendous growth opportunity in tier-II and -III cities as the income level of low and mid-income group is rising. An in-depth analysis of the consumer behavior patterns has been carried out by conducting comprehensive primary research and market surveys. For our survey, we targeted the people in the income group of INR 0.25-1.25 Million annually, which includes prospective buyers, such as tenants and investors. Our survey also covers the other important features of affordable housing sector like consumers’ preferences for 1 and 2 BHK flats, and major factors considered while selecting location for residence.
In order to provide a complete understanding of the market to clients, our comprehensive study has analyzed the market drivers and challenges in the affordable housing industry in India. In addition, the report provides profiling of the major companies in the field, such as Ansal Housing, Unitech, Omaxe Limited, Tata Housing and Puravankara to gain insights on their overall business, recent activities and an analysis on their strengths and weaknesses. The report also provides a snapshot of major affordable housing projects being executed by key players. Seeing the lucrative potential, various players are expanding their operations in tier-II & -III cities. Overall, the report presents optimum information and balanced research outlook on the potentials of the Indian affordable housing industry.