Affordable housing will constitute a key focus segment for developers according to top realtors as population of metropolis is expected to go more than double and the middle-class with a higher purchasing power is also likely to burgeon.
Presently, population of the metropolis is 16 million and is expected to be 33 million by 2030.
From in.finance.yahoo.com:
“Many established developers known for their super-luxury or premium projects are now embarking on affordable and low- cost housing projects,” leading developer MAN Infraprojects Director Nikhil Mansukhani told PTI here.
Areas in the periphery of the metropolis such as Dahisar, Thane and Panvel will witness a robust demand for affordable housing, he said, adding his company was planning three huge projects in these locations.
Affordable housing is poised to take-off rapidly in Mumbai and surrounding areas as compared to other locations in the country, Marathon Group Managing Director Mayur Shah said.
“While the spread of urbanisation… pan-India, Mumbai and the western region will grow more rapidly.” He, too, said that areas in the Mumbai Metropolitan Region (MMR), which extends to adjoining Thane and Raigad districts, would provide real estate developers with tremendous opportunities.
“The middle-class in the region will expand significantly and it will also possess a high purchasing power,” he said.
Many eminent realty groups have shifted focus to affordable housing, a trend on a high in recent times and expected to improve in the coming years.
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