With luxury and premium housing on the rise, mid-income housing is struggling due to high interest rates and lower supply in top cities. Developers say reducing levies and fast-tracking approvals can help revitalize the sector.
Mid Income HousingReal EstateLeviesApprovalsAffordable HousingReal Estate NewsJun 16, 2024
The Indian housing market is experiencing a dichotomy, with luxury and premium housing segments witnessing strong growth, while mid-income housing is facing headwinds.
High interest rates and lower supply in top cities are the major challenges facing the mid-income housing sector.
State governments can help revitalize the mid-income housing sector by reducing levies and fast-tracking approvals.
High levies and approvals constitute more than 50% of the cost of a house in big cities.
The approval process can be improved by implementing single-window clearance for projects and streamlining lending procedures.
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