Hey… Cheap houses have stopped building! Big news about affordable houses priced less than Rs 50 lakh

Economic House: The real estate is a slowdown in the market. The sales of homes continue to decline. Meanwhile, a shocking report has come out that a scam of Rs 1,000 crore has taken place. The sales of houses priced below Rs 50 lakh have fallen by 9%. According to a report by property advisory firm Knight Frank India, sales of houses worth less than Rs 50 lakh in 8 major cities of the country have declined in January-March this year.

Cheap houses are not being built.
According to this new property market report, high prices, high interest rates and low supply houses are responsible for the slow demand for houses. However, realty experts say the only reason for this is a major decline in affordable housing supply. Since Kovid, developers are focusing only on luxury or expensive houses. They do not build cheap houses. Due to this, there has been a huge shortage of options in the market.

The price of cheap houses has also been done in crores.
There has been an extraordinary increase in house prices in the last 4 years. Due to which now the price of affordable houses has been done in crores. Due to which these houses are now out of the middle class budget. Many people cannot buy their house even if they want to. Its effect is being seen on the real estate market. The demand for housing is continuously decreasing. If the supply of affordable housing is not increased on time, the real estate area may once again be hit by recession.

The demand for expensive houses has also declined rapidly.
The advisory firm said that the buyers of affordable housing sector are staying away from the market due to high prices and high interest rates. In addition, the recession in the supply of houses also played an important role in reducing the amount of sales. Premium and luxury segments were more interested in the January-March period. In contrast, Rs. The sales of houses priced at Rs 1-2 crore increased by two percent and it increased to 22,330 units. During this period, the total house sales in these cities increased by two percent to 88,274 units.

This data was taken from these 8 cities.
The report of the report shows that in eight major cities of the country, Rs. The sales of houses priced below Rs 50 lakhs declined nine percent to 21,010 units. According to the report, sales are promoting market growth in high value segment, but Rs. 50 lakh to Rs. 1 crore Categories priced below Rs 50 lakh have seen a decline of six percent and nine percent respectively on an annual basis. In fact, in this quarter, home buyers focused on the premium category. Knight Frank India has released this report based on data collected from the markets of Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Pune, Hyderabad, Bangalore and Ahmedabad.