By Nick Gilbert
Research and Markets has introduced a new analysis report on the affordable housing market in India.
The report titled "India Affordable Housing Market Analysis" estimates the Indian affordable housing industry to increase at more than 46% CAGR during the period 2012-2014.
According to the comprehensive report, the affordable housing industry has been growing at amazing levels due to various factors such as financial options, entry of real-estate developers, rapid urbanization, increase in income levels, a wide population base, and the trend of nuclear families.
The low-income group is leading the demand for affordable housing followed by the mid-income group. The former group tends to be a promising target for real-estate developers.
The significant shortage for low-cost housing will drive the market for affordable housing, the report finds. It will provide a huge platform for players in the affordable housing market. The comprehensive report highlights the various initiatives that are being taken by the government, financial institutions and real-estate developers to address the gap in demand and supply.
The report states that the increase in income level of both the low and mid-income groups is offering a tremendous opportunity for affordable housing industry in tier-II and -III cities. It analyzes the competitive landscape, challenges, and stakeholder's initiatives. Comprehensive market surveys and primary research were conducted to analyze the consumer behavior patterns.