Luxury in, affordable out: Why budget homes are going out of fashion Indiatoday.in
Owning a house is becoming a distant reality for India's middle class, as affordable housing grows increasingly scarce. Houses costing less than Rs 50 lakh now make up just 15% of India's total residential real estate market, following a decline during the pandemic. The number of affordable homes has seen a drop over the past two years, from 27% in Q1 of 2022 to the current 15% in Q1 of 2024, marking the lowest market share for such homes in years, according to JLL, a prominent real estate consultancy.
