{"id":1726,"date":"2019-09-22T12:05:36","date_gmt":"2019-09-22T12:05:36","guid":{"rendered":"https:\/\/www.pranavconstructions.com\/blog\/?p=1726"},"modified":"2021-10-14T11:58:40","modified_gmt":"2021-10-14T11:58:40","slug":"mid-segment-and-affordable-housing-gaining-ground-in-mumbai","status":"publish","type":"post","link":"https:\/\/www.pranavconstructions.com\/blog\/2019\/09\/22\/mid-segment-and-affordable-housing-gaining-ground-in-mumbai\/","title":{"rendered":"Is Mid-Segment and Affordable Housing Gaining Ground in Mumbai?"},"content":{"rendered":"\n

One of the prime factors behind the current slowdown in real estate was the exponential rise in housing prices over the 2000s and 2010s, as Real Estate Developers<\/a> and investors rushed to cash in on a growing market. <\/gwmw><\/p>\n\n\n\n

As prices reached sky-high levels\nthough, demand crashed across the top cities, including Mumbai, which\nis one of the more expensive housing markets in the country. In\nMumbai alone, the stock of unsold homes stood at nearly 120,000,\ndespite recent improvements, according to Knight Frank\u2019s\nJanuary-June 2018 report.<\/p>\n\n\n\n

As a result, builders across India\u2014who\nhad earlier focused heavily on the more profitable high-end, premium\nand luxury segments\u2014are tilting more towards affordable and\nmid-segment housing. In Mumbai, realty firms have been targeting the\nmid-segment in particular and launching smaller, more affordable\nhomes to cater to buyers on a budget, says Knight Frank. Nearly\nthree-quarters of sales in the city in the first half of 2018 were in\nthe low- and mid-segment category, in peripheral areas such as Navi\nMumbai, Vasai, Palghar, Dombivli, Bhiwandi and Thane, according to\nthe real estate consultancy firm\u2019s report.<\/p>\n\n\n\n

The city has seen average home prices dropping in general\u2014especially with the increase in the number of discounts offered by developers and the declining sizes of newly launched units\u2014and the mid-segment in particular has also seen a fall in ticket size<\/a>. This bodes well for the home-buyer, as even the mid-segment in Mumbai remains a pricey affair for the average middle-class individual.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the prime factors behind the current slowdown in real estate was the exponential rise in housing prices over the 2000s and 2010s, as Real Estate Developers and investors rushed to cash in on a growing market. <\/p>\n

As prices reached sky-high levels
\nthough, demand crashed across the top cities, including Mumbai, which
\nis one of the more expensive housing markets in the country. In
\nMumbai alone, the stock of unsold homes stood at nearly 120,000,
\ndespite recent improvements, according to Knight Frank\u2019s
\nJanuary-June 2018 report.<\/p>\n

As a result, builders across India\u2014who
\nhad earlier focused heavily on the more profitable high-end, premium
\nand luxury segments\u2014are tilting more towards affordable and
\nmid-segment housing. In Mumbai, realty firms have been targeting the
\nmid-segment in particular and launching smaller, more affordable
\nhomes to cater to buyers on a budget, says Knight Frank. Nearly
\nthree-quarters of sales in the city in the first half of 2018 were in
\nthe low- and mid-segment category, in peripheral areas such as Navi
\nMumbai, Vasai, Palghar, Dombivli, Bhiwandi and Thane, according to
\nthe real estate consultancy firm\u2019s report.<\/p>\n

The city has seen average home prices dropping in general\u2014especially with the increase in the number of discounts offered by developers and the declining sizes of newly launched units\u2014and the mid-segment in particular has also seen a fall in ticket size. This bodes well for the home-buyer, as even the mid-segment in Mumbai remains a pricey affair for the average middle-class individual.<\/p>\n","protected":false},"author":1,"featured_media":1772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[50,28,32,30],"yoast_head":"\nIs Mid-Segment and Affordable Housing Gaining Ground in Mumbai?<\/title>\n<meta name=\"description\" content=\"The mid-segment and affordable housing gaining ground in Mumbai because, In Mumbai alone, despite recent improvements, stock of unsold homes stood at nearly 120,000\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pranavconstructions.com\/blog\/2019\/09\/22\/mid-segment-and-affordable-housing-gaining-ground-in-mumbai\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Mid-Segment and Affordable Housing Gaining Ground in Mumbai?\" \/>\n<meta property=\"og:description\" content=\"The mid-segment and affordable housing gaining ground in Mumbai because, In Mumbai alone, despite recent improvements, stock of unsold homes stood at nearly 120,000\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pranavconstructions.com\/blog\/2019\/09\/22\/mid-segment-and-affordable-housing-gaining-ground-in-mumbai\/\" \/>\n<meta property=\"og:site_name\" content=\"PCPL Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-22T12:05:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-14T11:58:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pranavconstructions.com\/blog\/wp-content\/uploads\/2019\/09\/Affordable-Housing-Societies-in-Mumbai.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1816\" \/>\n\t<meta property=\"og:image:height\" content=\"914\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/posts\/1726"}],"collection":[{"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/comments?post=1726"}],"version-history":[{"count":3,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/posts\/1726\/revisions"}],"predecessor-version":[{"id":2187,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/posts\/1726\/revisions\/2187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/media\/1772"}],"wp:attachment":[{"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/media?parent=1726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/categories?post=1726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pranavconstructions.com\/blog\/wp-json\/wp\/v2\/tags?post=1726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}