Affordability unfolds huge future biz avenues

According to the Director & Head- BFSI, India Ratings, Prakash Agarwal, there is enough business opportunity as a huge segment of the affordable housing is poised to have higher demand and big future business opportunities for property developers. The rating understands that the opportunity is huge and can really unlock a lot of value. It is one sector where the story is going to unfold for multiple years as there is long-term growth story in this segment. The latent demand for affordable housing was there but the vectors which are pushing this segment are very clear -- regulatory support, government support and increasing urbanisation. As a matter of fact, it is for the first time post independence, absolute growth in population in urban areas was higher than the rural areas and coupled with increasing nuclearisation, increasing affordability, for the first time, it appears that demand from developers actually getting into this segment is a big high. All the segments and blocks are ready. The point is that there is enough opportunity and a huge segment is poised to have huge demand. The challenge on this segment would be how does the players execute and exploit this to the hilt, he insisted.