Theme: Real Estate| Has the definition of affordable housing changed in recent times?

In the recent State of the Economy podcast, Mallanna Sasalu, CEO of Provident Housing, shared insights into the real estate industry's current state, growth prospects, and market dynamics. Reflecting on the performance of FY 23, Sasalu highlighted a strong start for the year, with a growth rate exceeding 27% compared to the previous year's first quarter. He also mentioned that the industry's trajectory appears promising, with sales on the rise. Anticipating the Reserve Bank of India's upcoming Monetary Policy Committee meeting, he expressed optimism that rates would remain stable, minimising their impact on the market. Discussing Provident Housing's projects, Sasalu unveiled plans for around 5.8 million square feet of development across five projects in Bangalore, Cochin, and Chennai, totalling approximately 2,800 units. He emphasised the importance of community living and how condominiums are expected to drive market demand, alongside plot developments. Addressing the concept of "affordable housing," he clarified that the definition varies between the government's perspective and that of private developers. He noted that affordable housing's price range has evolved due to inflation and market dynamics, suggesting that the definition should be updated to reflect current realities. As for future funding, he mentioned that Provident Housing is open to both project-based and platform funding approaches, maintaining an ongoing dialogue with various investors and financial institutions. (Host: Abhishek Law, Producer: Anjana PV & Nabodita Ganguly) About the State of the Economy podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups