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NCR, MMR regions lead affordable housing segment
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SME Times News Bureau | 18 Mar, 2019
The National Capital Region
(NCR) and the Mumbai Metropolitan Regions (MMR) lead the affordable
housing segment in terms of launches and sales across seven cities in
the country, a CII-Anarock report said on Sunday.
NCR and MMR
account for 55 per cent share of total six lakh affordable housing units
launched across the top seven cities in the country and NCR saw the
maximum supply, said the report.
Of the total 3.98 lakh units
sold in the price category of under Rs 40 lakh, NCR and MMR contributed
57 per cent of the total sales. The other cities where the survey was
conducted were Bengaluru, Chennai, Hyderabad, Kolkata and Pune.
Commenting
on the report, Anuj Puri, Chairman, Anarock Property Consultants said:
"The anticipated 8-10 per cent annual growth of this segment is luring
investors."
"Data further suggests that out of the total 15.3
lakh units launched across the top 7 cities between 2014 to 2018,
affordable housing contributed about 6 lakh units - 39 per cent of the
overall supply," he said.
Homes have already been sanctioned
under the Pradhan Mantri Awas Yojana (PMAY), but the pace of development
needs to pick up, said the report.
According to the survey,
some of the key deterrents for speedier affordable housing development
are scarcity of land, illegal settlements and slums and limited private
sector participation despite several fiscal and statutory benefits to
attract private players.
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