At a time when India is witnessing massive shortage of housing, 4.8 lakh houses remain unsold in Mumbai and its surrounding areas. The metropolis has the highest number of unsold flats in the country followed by Delhi and Bengaluru where 3 lakh houses are yet to find buyers. As per various reports, while India is facing a shortage of houses, on the other hand, a large number of flats remain unsold in major cities of the country. The Modi government had promised to provide affordable housing for all by 2022 but it lacks proper road map to fulfil this objective. Most of the builders are focussed on constructing premium projects targeting rich and upper middle class sections and they are not interested in building affordable housing projects for the lower middle class and economically weaker sections.

Since real estate cost remains expensive in Mumbai, hence lower middle class people are unable to purchase a home in the metropolis. Therefore, they search for cheaper homes outside the city limits but have to commute long distance to reach their workplaces. The major reason behind demand and supply disparity is due to lack of affordable housing options available to economically weaker sections. If situation continues to remain in this manner the Modi government’s housing for all scheme will remain a pipe dream.

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