The slowdown in the Indian residential sector is not the result of any one factor, though many would be tempted to assume that over-pricing is the main culprit.
Indian housing market
That’s a lot better than the figure of 24 million that held true just five years ago. After the obvious deficit of affordable housing for the LIG and EWS groups, what is most striking is the low availability of budget housing projects that fall in the price range of Rs. 40-55 lakh in urban areas. This is the budget range that pertains to the largest part of the rapidly growing Indian middle class.