{"id":23370,"date":"2021-08-31T15:21:00","date_gmt":"2021-08-31T09:51:00","guid":{"rendered":"https:\/\/plyinsight.com\/?p=23370"},"modified":"2021-09-13T16:13:40","modified_gmt":"2021-09-13T10:43:40","slug":"slower-demand-for-budget-housing-mkt","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/slower-demand-for-budget-housing-mkt\/","title":{"rendered":"Slower Demand for budget housing mkt"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><div class=\"vc_row wpb_row\"><div class=\"wpb_column column_container col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Amid widespread economic distress and sinking income levels, the country&#8217;s real estate sector is undergoing a massive overhaul. This comes at a time when a broad swathe of consumers is cutting down on expenses, further crimping the affordable housing market.<\/p>\n<p>The data from market analyst firm Anarock property research shows the share of affordable homes (priced below R40 lakh) in the overall new launches in the top seven metros fell sharply since the Covid-19 pandemic upended lives in India. From 40 per cent in early 2020, its share is now down to 20 per cent (April-June2021).<\/p>\n<p>Meanwhile, the demand for new launches in the luxury segment (priced between R80 lakh and R1.5 crore) has shot up.<\/p>\n<p>Till end 2019, while it had 15 per cent share of the newly launched projects, it grew to 20 per cent by the end of 2020 and to 36 per cent in the June 2021 quarter. The share of mid-segment homes (R40-80 lakh) stood at 32 per cent in June, after growing to 40 per cent in the calendar year 2020.<\/p>\n<p>Once the key driver of volumes in the residential real estate market, the steady fall of the affordable segment if rooted in the ongoing crisis. According to industry experts and realtors, multiple factors have led to the recent slowdown, with both demand and supply getting hit.<\/p>\n<p>According to Anarock, of the total 654,000 unsold units in the top seven cities end June, the affordable segment comprises 33 per cent \u2013 the highest in comparison to any other price segment.<\/p>\n<hr \/>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row\"><div class=\"wpb_column column_container col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_raw_code wpb_raw_html wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<iframe width=\"500\" height=\"315\"\nsrc=\"https:\/\/www.youtube.com\/embed\/V-KY9Pl-OkE?playlist=V-KY9Pl-OkE&loop=1\">\n<\/iframe>\n\n\n\n\n\t\t<\/div>\n\t<\/div>\n<div class=\"vc_separator wpb_content_element vc_separator_align_center vc_sep_width_100 vc_sep_pos_align_center vc_separator_no_text vc_sep_color_grey wpb_content_element  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country's real estate sector is undergoing a massive overhaul. This comes at a time when a broad swathe of consumers is cutting down on expenses, further crimping the affordable housing market. The data from market analyst firm Anarock property research shows the share of affordable homes [...]","protected":false},"author":1,"featured_media":23371,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1395],"tags":[],"class_list":["post-23370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-august-articles-2021"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Slower Demand for budget housing mkt - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/slower-demand-for-budget-housing-mkt\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slower Demand for budget housing mkt - 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