67% housing demand in Mumbai from affordable segment: Knight Frank-Naredco

Supply of such housing insufficient to meet demand, says study

Mumbai Metropolitan Region (MMR) recorded a staggering 67 per cent of housing demand coming for units priced lower than Rs 25 lakh, said a report by Knight Frank and National Real Estate Development Council (Naredco).

Despite strong interest in the residential sector, the supply of affordable housing has not been able to meet this demand. According to the Knight Frank survey, the demand concentration for housing units in the Rs 25-50 lakh price range was 13 per cent and that for units priced above Rs 50 lakh was 20 per cent. 

By contrast, the supply of housing units priced above