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The Affordable Segment Experiencing Growth

October 1 - 15, 2018

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BUSINESS ECONOMICS

India is witnessing significant waves of inward urban migration in recent years.

- Anwesha Chowdhury

The Affordable Segment Experiencing Growth

As employment is predominantly being generated in urban centres, there is a consistent demand for affordable spaces in urban centres. Shekhar Sarkar, a banker who shifted from Burdwan to Kolkata, told BE, “It was a real problem for me to find a nice place at an affordable price. I am presently living in a shared rental one BHK flat.”

According to a Deloitte report, the high percentage of migration from rural areas to cities has contributed to urban congestion and has put immense pressure on basic urban amenities such as water and sanitation. It has also triggered housing shortages in cities across India. According to the report, the country’s total urban housing shortage is projected to be about 30 million by 2022.

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