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India: Middle-Class Unable to Buy Dream Homes as Property Prices Skyrocket | Firstpost Tech & Trade

India: Middle-Class Unable to Buy Dream Homes as Property Prices Skyrocket | Firstpost Tech & Trade After the world emerged from the woes of the COVID-19 pandemic, pent-up consumer demand led to higher sales across various sectors. The real estate sector also saw a similar upswing in India and globally. In India, a different pattern seems to be emerging over the next four years. The supply of affordable homes, which cost less than ₹40 lakh, has consistently declined, while premium ultra-luxury homes are being sold like hotcakes. The post-pandemic demand surge has pushed home prices across Indian cities, making the dream of homeownership impossible for large sections of the population. Even government-backed affordable housing schemes are bearing the brunt. Earlier this month in Chandigarh, a house auction sparked controversy when two of the seven flats sold fetched over ₹2 crore. These flats were part of a government scheme aimed at middle-income families. Let’s explore what is driving this demand and supply imbalance in India. --- India | Pandemic | Affordable Housing | Chandigarh | Controversy | Flats | COVID-19 | Firstpost | News Live | World News | Latest News | Global News | International News | News | Trending News #india #pandemic #affordablehousing #chandigarh #controversy #flats #covid19 #firstpost #newslive #worldnews #latestnews #globalnews #news #internationalnews #trendingnews Firstpost is an Indian news and media website. Get all the incisive opinions, in-depth analyses and other visual stories that matter to you and the world right here on this channel. Subscribe to Firstpost channel and press the bell icon to get notified when we go live.    / @firstpost   Follow Firstpost on Instagram:   / firstpost   Follow Firstpost on Facebook:   / firstpostin   Follow Firstpost on Twitter:   / firstpost   Follow Firstpost on WhatsApp: https://www.whatsapp.com/channel/0029...