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The Affordable Segment Experiencing Growth
BUSINESS ECONOMICS
|October 1 - 15, 2018
India is witnessing significant waves of inward urban migration in recent years.
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.
This story is from the October 1 - 15, 2018 edition of BUSINESS ECONOMICS.
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