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A new study by Grihum Housing Finance highlights rising property prices in Delhi-NCR's micro-markets, driven by post-pandemic homeownership demand, migration, and government schemes like PMAY. The Grihum Guide to Affordable Housing: Delhi-NCR Edition analyses data from 2005 to 2024, showing how "Housing for All" is reshaping areas like Kakrola, Palam, and Shyam Vihar. Grihum CEO Manish Jaiswal stressed that understanding asset-level risks-especially Loss Given Default (LGD)-is crucial for sustainable growth in the sector. The report also proposes EMI ranges based on buyer income and addresses infrastructure gaps, calling for fast-track policy support. It serves as a key resource for developers, investors, and policymakers.
The emergence of micro-markets across the Delhi-NCR region is leading to a steady appreciation in property prices, according to a newly released study by Grihum Housing Finance. The report attributes this trend to multiple factors such as renewed interest in homeownership following the pandemic, a growing influx of migrants, and increased adoption of government-led initiatives like the Pradhan Mantri Awas Yojana (PMAY). These elements have triggered demand-pull inflation, particularly in the affordable housing segment, pushing prices upward. Advertisement
Grihum's latest publication, titled Grihum Guide to Affordable Housing: Delhi-NCR Edition, offers a deep-dive into the region's real estate trends and challenges. Spanning nearly two decades of data, from 2005 to 2024, the guide provides a data-rich perspective on the growth trajectory of affordable housing in the National Capital Region.
The report underlines how the mission of "Housing for All" is gradually materialising in Delhi-NCR, with support from both banks and housing finance companies. This vision has prompted the growth of several new and promising residential pockets across the city, including areas like Kakrola, Rajapuri, Mahavir Enclave, Chander Vihar, Palam, Amber Enclave, Amberhai Village, Qutub Enclave, Shyam Vihar, and Bamnoli.
While unveiling the handbook earlier this week, Grihum's MD and CEO, Manish Jaiswal, emphasised that India's affordable housing sector is entering a phase of structural growth due to ongoing rural-urban transformation, rising incomes, and supportive government policies. He mentioned that the guide was developed in-house by civil engineers and offers an asset-centric evaluation approach highlighting that understanding build quality, informality, and localised risks is key to managing core financial threats like Loss Given Default (LGD), which is often under-analysed compared to borrower-related risks such as Probability of Default (PD).
According to the report, better visibility into LGD can lead to stronger underwriting, pricing, and recovery strategies making it an essential tool for housing finance institutions looking for sustainable expansion in the affordable housing space.
The guide also breaks down various complexities of the sector and offers actionable recommendations. It takes into account the income profile of buyers in the region and proposes optimal EMI ranges, along with suitable micro-markets to explore. Additionally, it addresses infrastructure challenges such as pressure on public transportation, healthcare facilities, and sanitation systems. It calls for the implementation of a fast-track resolution mechanism backed by well-defined policies to address these growing urban issues.
Given the geographical scale of Delhi-NCR which stretches across parts of Haryana, Uttar Pradesh, and Rajasthan alongside the capital the report serves as a strategic resource for developers, investors, and policymakers active in India's affordable housing ecosystem.
As urban sprawl continues and infrastructure struggles to catch up, tools like the Grihum Guide are becoming increasingly valuable for navigating the market. This is particularly important for stakeholders aiming to balance profitability with inclusivity and long-term growth in India's housing sector.
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