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Coronavirus outbreak: Disappearing migrants hit affordable housing
Updated On: 16 April, 2020 07:20 AM IST | Mumbai | Vinod Kumar Menon
Adversely impact the credit and cash flows of the developer; experts say MMR alone has around 1.72 lakh affordable housing units under construction that may not find buyers anytime soon
An under-construction building. Representation pic
Among the many sectors hit with the COVID-19 health crisis, affordable housing too will see a major dip in 2020. Around 6.1 lakh affordable units (priced below R40 lakh) were under construction across seven cities until the lockdown was announced, a real estate report mentioned. This is over 39 per cent of the total 15.62 lakh under-construction (UC) units in NCR, MMR, Pune, Kolkata, Bengaluru, Chennai and Hyderabad.
MMR alone has nearly 1.72 lakh affordable units under construction with the unsold affordable stock as of March 2020 being 68,970 units.
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