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Expanding Affordable Housing in India
"With the rise of middle class and people moving to tier I and tier II cities for work, affordable house seems to be have very bright opportunity," says RNCOS
There are five states with large influx of people which clearly reflect the shortage of housing. Maharashtra alone had a shortage of around 1.2 Million houses and demand of 1.6 Million houses in 2015. Emphasizing on potential of this industry, Shushmul Maheshwari, CEO – RNCOS "growing urbanization and consistent rise in middle class population coupled with an increase in their income have been the major growth drivers of Affordable Housing Market in India. He also highlighted "the policy announcement like credit- linked interest subsidies aimed at making housing loans a viable option for the EWS sections of society and slum rehabilitation and redevelopment through private developer. These developments are expected to benefit affordable house manufacturers.
Government is focused on the development of the housing sector to ensure affordable housing for all by the year 2022. With the strong policy support like Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Pradhan Mantri Awas Yojna (PMAY) coupled with rising disposable income among EWS, LIG and Middle Income Groups (MIG) segment.
Growing housing demand is expected to provide huge opportunity to construct houses for EWS, LIG and MIG customer segments in the next few years, which will stimulate the growth of the industry. RNCOS acts as your growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
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