Government to extend the criteria of affordable houses 

Real estate companies have persuaded the government to heighten the criteria for affordable houses to Rs.65 lakh from Rs.45 lakh with other prices rising substantially. Millennials buying homes has gone up from 49 percent to 63 percent during the pandemic tenure. 

Although Covid regeneration has presented challenges, the soaring vaccinations, low home loan rates, developer inducements have been steering constant growth in housing demand, primarily for reasonable and mid-segment projects. 

As per the recent JLL India report, contemporary launches have upgraded by 38 percent till September to 93,873 units pertained to last year. In new times, the supply in Hyderabad is a slant to properties of above Rs.40 lakh. 

The demand for the mid-size and affordable segments has grown substantially across India and is particularly more noticeable in the southern markets due to IT companies offering great bonuses to persuade raw talent. 

Anuj Puri, Chairman, ANAROCK Group exclaimed that despite the early times to assess the consequences of the Omicron virus on the real estate sector, the second wave instigated new demand into the housing sector, arising as a crucial asset during the pandemic.