Now Reading: Urban India faces shortage of 10 million affordable homes
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Urban India faces shortage of 10 million affordable homes
India Today reports that only 28,102 of the 1.87 lakh homes launched in India's eight largest cities in the first half of 2026 were affordable, according to Knight Frank. Urban India faces…
The Story in Brief
India Today reports that only 28,102 of the 1.87 lakh homes launched in India's eight largest cities in the first half of 2026 were affordable, according to Knight Frank. Urban India faces a shortage of nearly 10 million affordable homes, and the gap is widening. Despite the Pradhan Mantri Awas Yojana-Urban (PMAY-U) delivering 9.9 million homes in its first phase, new supply has shifted sharply to high-end housing: homes above Rs 1 crore rose from 14% to 62% of launches since 2018. Private developers have exited affordable housing due to high land costs, thin margins, and regulatory delays, leaving government schemes unable to scale enough to meet demand.
The Indian Opinion
The affordable housing crisis exposes the gap between government claims of success under PMAY-U and ground reality. While 9.9 million homes were built, new affordable supply collapsed from 52% to 15% in eight years. Both sides share blame: policymakers failed to incentivise private builders, while developers chased high-end margins. The real test will be whether PMAY-U 2.0 delivers at least 1 million affordable units within five years, or if the word 'affordable' remains a facade.
Source: indiatoday.in
This story was synthesised by AI from the source linked above.
