Summary:
This has been attributed to the implementation of the Real Estate Regulatory Act (RERA) and increasing demand from homebuyers, forcing developers to shift from the luxury to the affordable housing sector. As per the survey report, there is a decline in the average size of residential units, contributing to growing affordability in the market. A decline in average ticket size and focus on affordable housing have improved home affordability across the country to a large extent. A SURVEY conducted by Knight Frank India has shown that houses across the country have become more affordable since 2010. With annual sales reducing across all major markets, the shift towards making homes more affordable is visible, the report stated..