Unveiling the Housing Surge: India's Affordable Market Boom by 2030

A report by CII and Knight Frank highlights India's affordable housing shortage, projected to reach 31.2 million units by 2030, creating a Rs 67 trillion market. The report presents financing opportunities worth Rs 45 trillion for banks. Encouraging public-private partnerships and incentives are recommended to boost development.

According to a report by the Confederation of Indian Industry (CII) and real estate consultant Knight Frank, India faces a severe affordable housing shortage. The discrepancy is projected to balloon to 31.2 million units by 2030, presenting a Rs 67 trillion market opportunity for real estate developers.

During a recent conference, experts like Ghulam Zia from Knight Frank emphasized the immense potential the affordable housing sector holds for financial institutions, estimating a financing opportunity of Rs 45 trillion. This represents a dramatic increase, three times the current loan volume in the segment.

The report also suggests the allocation of 1.9 lakh acres of land and encourages policy enhancements, such as additional Floor Space Index and tax incentives, to stimulate affordable housing projects. Additionally, stakeholders like HDFC are urged to target the segment with effective strategies.

(With inputs from agencies.)