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Market Research Report

Indian Affordable Housing Market Analysis - The Changing Paradigm

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Indian Affordable Housing Market Analysis - The Changing Paradigm
Published: December 7, 2015 Content info: 90 Pages

This publication has been discontinued on January 14, 2020.

Description

Few years back, the downturn and liquidity crunch had forced developers to adopt a strategy of coming up with smaller units at lesser prices. This oriented developers focus on the affordable housing segment, which has now become a big thing in the real estate market. In a country like India where population is second largest in the world and economy is in a growing phase, availability of affordable homes is a dire need. Our analysis says that the significant demand in affordable housing would be a key growth driver for the real estate sector.

According to our latest report, “Indian Affordable Housing Market Analysis - The Changing Paradigm”, the affordable housing demand is expected to surge at a CAGR of around 10% during 2015-2022. This growth is largely attributed to the wide population base, rising income level, increasing trend of nuclear families and rapid urbanization. Another factor which will prove to be a major driver is the government's stand on including private developers at various stages during housing projects implementation and execution. In accordance to our research and analysis, the LIG households are exhibiting a rising trend and with increasing disposable income per household, the demand from low-income group is accelerating at a considerable pace.

In the State-wise analysis, Maharashtra, Gujarat, Haryana, Rajasthan and Karnataka are the five states which came up as the most promising states for the affordable housing industry. Factors like Gross State Domestic Production, Gross State Domestic Production per capita, state population, government initiatives, and urban belt, among others, were analyzed to identify these states. As per our interviews with various government authorities, private developers and real estate consultants across India, land availability and still awaited government policies on PPP model in real estate are the major reasons for hindering the growth of this segment.

In order to provide a complete understanding of the market to clients, our comprehensive study has analyzed the market drivers and challenges in the affordable housing industry in India. The report also provides a snapshot of major affordable housing projects being executed by government authorities, private developers and public-private partnerships. Seeing the lucrative potential, various players are expanding their operations in different cities. Moreover, initiatives undertaken and implemented by central and state government for promoting this industry would increase the prospects of establishing affordable housing projects in the country.

Synchronizing all the factors, we have presented a coherent analysis of the performance of the India affordable housing industry. Our report depicts a most unbiased picture of the Indian affordable housing industry that will prove decisive for the clients.

Table of Contents

Table of Contents

1. Analyst View

2. Research Methodology

3. India Affordable Housing Overview

4. Industry Drivers

  • 4.1. Supply Side
    • 4.1.1. State Governments Aligning with PM Modi's Vision
    • 4.1.2. Financing Modes more Liberal and Supportive
  • 4.2. Demand Side
    • 4.2.1. Increasing Urbanization Leading to Elevated Demand
    • 4.2.2. Nuclear Families on the Rise
    • 4.2.3. Rising Income Levels Leading to a Sizeable Middle Class Segment

5. Industry Challenges

  • 5.1. Supply Side
    • 5.1.1. Availability of Land
    • 5.1.2. Financial and Regulatory Support
    • 5.1.3. Increasing Cost of Construction
  • 5.2. Demand Side
    • 5.2.1. Lack of Access to Housing Finance
    • 5.2.2. Lesser Awareness Regarding Affordable Projects in the Market

6. India Affordable Housing Demand Analysis

7. Top 5 States for Affordable Housing - An Analysis

  • 7.1. Maharashtra
    • 7.1.1. Economic Overview
    • 7.1.2. Demographic Overview
    • 7.1.3. Policies and Initiatives: Government and Private
    • 7.1.4. State Government and Private Developers' Outlook
    • 7.1.5. Infrastructure Development
    • 7.1.6. Ongoing and Upcoming Affordable Housing Projects
      • 7.1.6.1. Government
      • 7.1.6.2. Private/Public-Private Partnership
    • 7.1.7. Demand Analysis
  • 7.2. Gujarat
    • 7.2.1. Economic Overview
    • 7.2.2. Demographic Overview
    • 7.2.3. Policies and Initiatives: Government and Private
    • 7.2.4. State Government and Private Developers' Outlook
    • 7.2.5. Infrastructure Development
    • 7.2.6. Ongoing and Upcoming Affordable Housing Projects
      • 7.2.6.1. Government
      • 7.2.6.2. Private/Public Private Partnership
    • 7.2.7. Demand Analysis
  • 7.3. Haryana
    • 7.3.1. Economic Overview
    • 7.3.2. Demographic Overview
    • 7.3.3. Policies and Initiatives: Government and Private
    • 7.3.4. State Government and Private Developers' Outlook
    • 7.3.5. Infrastructure Development
    • 7.3.6. Ongoing and Upcoming Affordable Housing Projects
      • 7.3.6.1. Government
      • 7.3.6.2. Private/Public-Private Partnership
    • 7.3.7. Demand Analysis
  • 7.4. Karnataka
    • 7.4.1. Economic Overview
    • 7.4.2. Demographic Overview
    • 7.4.3. Policies and Initiatives: Government and Private
    • 7.4.4. State Government and Private Developers' Outlook
    • 7.4.5. Infrastructure Development
    • 7.4.6. Ongoing and Upcoming Affordable Housing Projects
      • 7.4.6.1. Government
      • 7.4.6.2. Private/Public-Private Partnership
    • 7.4.7. Demand Analysis
  • 7.5. Rajasthan
    • 7.5.1. Economic Overview
    • 7.5.2. Demographic Overview
    • 7.5.3. Policies and Initiatives: Government and Private
    • 7.5.4. State Government and Private Developers' Outlook
    • 7.5.5. Infrastructure Development
    • 7.5.6. Ongoing and Upcoming Affordable Housing Projects
      • 7.5.6.1. Government
      • 7.5.6.2. Private/Public-Private Partnership
    • 7.5.7. Demand Analysis

8. Opportunity Analysis for Private Developers

9. Recommendations to Excel Growth

List of Figures:

  • Figure 4-1: Urban Population (Million), 2010-2015
  • Figure 4-2: Average Family Size per Household (1990, 1995 and 2011)
  • Figure 4-3: Average Lower Class Household Income (US$), 2010-2015
  • Figure 6-1: Urban Housing Shortage (Million Units), 2012, 2017 & 2022
  • Figure 6-2: Affordable Housing Demand Potential (Million Units), 2015, 2017 & 2022
  • Figure 7-1: Maharashtra GSDP at Current Prices (Trillion INR), FY2011-FY2015
  • Figure 7-2: Maharashtra GSDP at 2004-05 Prices (% Growth), FY2011-FY2015
  • Figure 7-3: Maharashtra NSDP per Capita at Current Prices (INR), FY2011-FY2015
  • Figure 7-4: Maharashtra Population (Million), 1991, 2001 & 2011
  • Figure 7-5: Maharashtra Population by Age Group (%), 2011
  • Figure 7-6: Maharashtra Total Households (Million), 2001 & 2011
  • Figure 7-7: Maharashtra Households by Demography (%), 2001 & 2011
  • Figure 7-8: Maharashtra Affordable Housing Shortage (Million Units), 2015, 2017 & 2022
  • Figure 7-9: Maharashtra Affordable Housing Demand (Million Units), 2015, 2017 & 2022
  • Figure 7-10: Gujarat GSDP at Current Prices (Trillion INR), FY2011-FY2015
  • Figure 7-11: Gujarat GSDP at 2004-05 Prices (% Growth), FY2011-FY2015
  • Figure 7-12: Gujarat NSDP Per Capita at Current Prices (INR), FY2011-FY2015
  • Figure 7-13: Gujarat Population (Million), 1991, 2001 & 2011
  • Figure 7-14: Gujarat Population by Age Group (%), 2011
  • Figure 7-15: Gujarat Total Households (Million), 2001 & 2011
  • Figure 7-16: Gujarat Households by Demography (%), 2001 & 2011
  • Figure 7-17: Gujarat Affordable Housing Shortage (Million Units), 2015, 2017 & 2022
  • Figure 7-18: Gujarat Affordable Housing Demand (Million Units), 2015, 2017 & 2022
  • Figure 7-19: Haryana GSDP at current prices (Trillion INR), FY2011-FY2015
  • Figure 7-20: Haryana GSDP at 2004-05 Prices (% Growth), FY2011-FY2015
  • Figure 7-21: Haryana NSDP per Capita at Current Prices (INR), FY2011-FY2015
  • Figure 7-22: Haryana Population (Million), 1991, 2001 & 2011
  • Figure 7-23: Haryana Population by Age Group (%), 2011
  • Figure 7-24: Haryana Total Households (Million), 2001 & 2011
  • Figure 7-25: Haryana Households by Demography (%), 2001 & 2011
  • Figure 7-26: Haryana Affordable Housing Shortage (Million Units), 2015, 2017 & 2022
  • Figure 7-27: Haryana Affordable Housing Demand (Million Units), 2015, 2017 & 2022
  • Figure 7-28: Karnataka GSDP at current prices (Trillion INR), FY2011-FY2015
  • Figure 7-29: Karnataka GSDP at 2004-05 Prices (% Growth), FY2011-FY2015
  • Figure 7-30: Karnataka NSDP Per Capita at Current Prices (INR), FY2011-FY2015
  • Figure 7-31: Karnataka Population (Million), 1991, 2001 & 211
  • Figure 7-32: Karnataka Population by Age Group (%), 2011
  • Figure 7-33: Karnataka Total Households (Million), 2001 & 2011
  • Figure 7-34: Karnataka Households by Demography (%), 2001 & 2011
  • Figure 7-35: Karnataka Affordable Housing Shortage (Million Units), 2015, 2017 & 2022
  • Figure 7-36: Karnataka Affordable Housing Demand (Million Units), 2015, 2017 & 2022
  • Figure 7-37: Rajasthan GSDP at current prices (Trillion INR), FY2011-FY2015
  • Figure 7-38: Rajasthan GSDP at 2004-05 Prices (% Growth), FY2011-FY2015
  • Figure 7-39: Rajasthan NSDP Per Capita at Current Prices (INR), FY2011-FY2015
  • Figure 7-40: Rajasthan Population (Million), 1991, 2001 & 2011
  • Figure 7-41: Rajasthan Population by Age Group (%), 2011
  • Figure 7-42: Rajasthan Total Households (Million), 2001 & 2011
  • Figure 7-43: Rajasthan Households by Demography (%), 2001 & 2011
  • Figure 7-44: Rajasthan Affordable Housing Shortage (Million Units), 2015, 2017 & 2022
  • Figure 7-45: Rajasthan Affordable Housing Demand (Million Units), 2015, 2017 & 2022
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