The Indian Middle Class Housing Dream

What the Indian middle class housing aspiration looks like and what it costs

The Aspiration

The Indian middle class housing aspiration -- the specific desire for the owned home whose value as both shelter and investment the Indian middle class has consistently prioritised as the primary wealth accumulation strategy -- is the specific consumer aspiration that the real estate industry has been built to serve and that the specific combination of the land cost, the construction cost, and the financing cost has made increasingly difficult to fulfil.

The Current Reality

The current reality: the median home price in Bengaluru, Pune, and Hyderabad has increased substantially faster than median household income across the past decade. The affordability ratio -- the median home price divided by the median annual household income -- has moved from approximately 5 to approximately 8 in the specific tier-1 cities.

Genie Knows Coverage

Genie Knows India covers the housing aspiration because the accountability journalism of the Indian middle class economy requires examining the dimension of the economic aspiration that the real estate market most directly shapes.

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