Page 47 - Kolte Patil AR 2019-20

Growing Indian population
Projected to become the most populous country by 2027
Why we are optimistic of the long-term growth of our sector and business
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Improved borrower affordability
Tax incentives on home loans and subsidy for economically weaker sections have improved home loan affordability
Pradhan Mantri Awas Yojana
The Government launched the Housing for All programme (Pradhan Mantri Awas Yojana)
(Source: Economic Times, Outlook India, India Today, Invest India, Business Standard, Bloomberg, Live Mint, Business Today)
Urbanisation
India is the fastest urbanising country
Growing nuclear families
There is a consistent decline in the average household size
Millennial demand
Millennials (~47% of India’s working population) are driving apartment offtake
Middle-class affluence
Affluent households have more than doubled since 2008
Increasing incomes
The nominal per-capita net national income during FY20 was C135,050, a 6.8% rise
Housing shortage
Affordable housing shortfall placed at ~10 million units
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