‘More than 1 crore flats are vacant in India; crime of keeping property unused’: G Hari Babu | Business news
According to real estate consultancy Anarock, launches of luxury residential units priced above Rs 1.5 crore have skyrocketed by as much as 1,000 percent between 2019 and 2023. Meanwhile, new launches of units priced below Rs 75 lakh, including affordable housing, remained stagnant in the country’s top seven cities. In a conversation with AGGAM WALIA, National Chairman of National Real Estate Development Council (NAREDCO), G HARI BABU, delves into the growing trend of premiumization in the real estate sector even as the supply of high-demand affordable housing seems scarce.
