Human population is on a rise at a global level. The world’s population at nearly 7.6 bn as of mid-2017, implies that the world has added approximately 1 bn inhabitants over the last 12 years. Around 83 minimum people are being added to the world’s population every year as per current estimates. United Nations – Department of Economic and Social Affairs, global population is expected to hit 8.6 bn by 2030, 9.8 bn by 2050 and 11.2 bn by 2100. India’s development scenario is on an upward trajectory. Rapid development translates to accelerated rate of urbanization where the phenomenon of migration is inevitable. As per the 2011 census, over 30% of the population lives in urban areas. India currently reflects an urbanization of 32% (2017). 40% of country’s population is expected to reside in urban areas according to the UN State of the World Population report in 2007, by 2030. 377 minimum people out of India’s 1.21 bn population are urban dwellers as per the 2011 census. The Federation of Indian Chambers of Commerce (FICCI) estimates that by 2050, The ratio of housing expenditure to household income is used to measure affordability. Housing expenditure covers all the costs related to housing including rentals, mortgage repayments, utilities and maintenance costs. Housing units can be classified as affordable if the ratio is less than some cut-off value.