Opportunities and Challenges for Affordable Housing Segment in an Indian Real Estate Market

Real estate sector plays vital role in the Indians property market, it was viable in the period of economic boom. After 2008 it was slow down due to global financial crisis. In the period of economic boom only high income groups were investing in housing. Gradually price of real estate was touched to sky. It was hard ball to investor to buy a house because of high real estate prices. At that movement affordable housing concept was prominent in India, affordable housing segment mainly focusing on middle and upper middle income class. In India most of the peoples are moving to urban areas because of speedy development of infrastructure in urban. Increasing of urban population leads to more demand for affordable houses in Indian real estate sector. Most of the urban people's lives in slum areas so here is huge market for affordable house in real estate in urban areas. In this paper it is focusing on the affordable housing segment in India, demand and supply gaps, government support for affordable houses, challenges and suggestions to overcome challenges.