Homeownership is a part of our nation’s socio-economic policy and remains one of the key priorities for the government. This is even more relevant considering the trend towards rapid urbanization, nuclear families, and ever-evolving aspirations of the Indian populace to climb up the socioeconomic ladder, especially in urban areas. Homeownership is also aligned with the rise in employment opportunities and a better standard of living in urban areas.

In the coming years, the latent demand for housing is expected to increase significantly. By 2022, it will rise to about 46 million and 40 million housing units in urban and rural areas respectively. A significant part of this is expected from the households that belong to the lower end of the “Household Income” spectrum, especially where the sources of employment and income continue to remain informal.