Gujarat leads the way in affordable housing

affordable housing
Real estate developers across Gujarat are betting big on affordable homes as about one-third of all the real estate projects registered with Gujarat Real Estate Regulatory Authority (GujRERA) fall under the affordable housing category. Of the total 5,191 realty projects — residential, commercial, mixed-use and plotting schemes — registered so far with the state regulatory authority, 1,694 are affordable housing projects, of which, 878 are only residential and 816 are mixed-use with residential and commercial units.

Ahmedabad has the highest number of such projects followed by Vadodara (361), Rajkot (265), Surat (236) and Gandhinagar(103). The demand in real estate market is mainly driven by affordable homes, said president of real estate body GIHED-CREDAI, Ashish Patel. A recent report by Knight Frank India also states that 2,844 residential units were launched in Ahmedabad during July-December 2018. Of this, a major part was in the affordable housing segment, and that 61% of the total units launched in the second half of 2018 were in in the less than ₹50 lakh price category..
Published on 05 April 2019
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