constructionweekonline.in-Why India is staring at a housing crisis
India’s top nine cities, where majority of Indians migrate for jobs, is staring at a housing crisis. As developers shift focus to luxury housing, the supply of homes in the affordable and mid-income category (priced Rs 1 crore and below) has dipped by 36% in the last two years, from 3,10,216 units in 2022 to 1,98,926 units in 2024 with NCR, Mumbai and Hyderabad as worst performers, said a report by NSE-listed real estate data analytics firm PropEquity.
The housing supply in the affordable and mid-income category stood at 2,83,323 units in 2023, a drop of 30% in one year.
The top nine cities are Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Thane, Navi Mumbai, Kolkata and NCR.
