Connect with us


Affordable housing incentives key to property market revival:


March 15, 2022: Policy support from the government is seen fueling the attraction for affordable homes in India in 2021, indicates data shown by digital real estate brokerage firm This, in turn, helped the world’s second most populous nation register a jump in annual housing sales as well as supply.

According to numbers available with, 43% of the total housing sales in India’s eight leading housing markets was within the price bracket of Rs 45 lakh, a cap essential to avail of certain government subsidies on home purchase in India. A PropTiger report, titled Real Insight Residential – Annual Round-up 2021, says, home sales in India’s eight prime housing markets increased 13% in 2021, when compared to the overall sales in 2020.

Under Section 80EEA of its income tax law, India offers its first-time homebuyers an additional tax deduction of Rs 1.50 lakh if the unit is worth up-to Rs 45 lakh. Such borrowers can also claim subsidy under the government Pradhan Mantri Awas Yojana Programme (PMAY).

According to, the up-to-Rs-45-lakh-price bracket also contributed 41% to the annual new supply in these eight markets in 2021. A total of 2.14 lakh units were launched in 2021 in these markets compared to 1.22 lakh units in the preceding year, showcasing an upward swing of 75%.

The residential markets covered in the analysis include, Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), MMR (Mumbai, Navi Mumbai & Thane) and Pune.


“In addition to government subsidies, record low home loan interest rates too, have been a great driver of home sales in the country in 2021 even as the economy slowly recovered from the shock of the second wave of the pandemic during the year. We expect to see more intense activity in the housing market in 2022 especially in the affordable homes segment as various deadlines to avail of the government subsidies near the end,” said  Dhruv Agarwala, Group CEO,,

Ankita Sood

“The central government’s Rs 48,000 crore outlay to augment the supply in the affordable housing segment in both rural and urban areas is a welcome step which will accelerate the vision of ‘Housing for all’.  However, apart from boosting the supply, there is also a need to boost the demand in the segment through tax rebates, stamp duty waivers and by increasing the capping for homes to qualify as affordable homes in metro cities to further incentivize homebuyers.” said Ms Ankita Sood, Head and Research, &

Latest News

News1 day ago

Central Park’s Bignonia Towers in Sohna Achieves Rs 500cr Sales Bookings 

New Delhi, 14th June 2024: Bignonia Towers by Central Park in in Sohna has recorded sales bookings of Rs 500...

News1 day ago

Author Ashwinder R. Singh Launches His Third Book, “Master Commercial Real Estate”

June 14, 2024: Ashwinder R. Singh, acclaimed for his insightful contributions to real estate, launched his third book, “Master Commercial...

News1 day ago

Grade A Office Spaces Demand Growing at a Brisk pace, 164.3 Mn Sq Ft Added Since 2021

June 14, 2024: India’s office market is undergoing a profound transformation, reflecting the country’s robust economic growth, demographic advantages, and...

News1 day ago

Real Estate Sector Needs to Gear Up for New Housing Challenges Until 2029, With Rain Harvesting as a Core Element for Housing Projects: HUA Additional Secretary

New Delhi, June 14, 2024: Additional Secretary of the Ministry of Housing and Urban Affairs, D Thara, on Friday asked...

News2 days ago

Tier-2 Cities Closing the Gap with Top-8 as Property Prices Surge by 10-15% in Prime Areas: Report

New Delhi, June 13, 2024: has released its inaugural “The Bharat in India” report on Thursday. The report unveils...

News2 days ago

Housing Prices Soar 13% CAGR as Inflation Moderates to 5.4%: ANAROCK Report 

Mumbai, June 13, 2024: Inflation, the gradual increase in the general prices of goods and services, erodes the purchasing power of money...