2023 saw a 20% decrease in affordable housing launches in India's top eight cities, with only 179,103 units priced under Rs 60 lakh launched.
In Q1 2024, Indian housing prices increased by 10% annually, while unsold inventory rose marginally. Affordable housing supply dropped 38% due to rising land and construction costs, making projects less profitable. In the top eight cities, only 179,103 affordable units priced under Rs 60 lakh were launched in 2023, a 20% decrease from 2022, and this trend is expected to continue in 2024.
May 26, 2024
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