Latest news with #CIIRealEstateCommittee
Business Standard
30-07-2025
- Business
- Business Standard
India's Housing Ladder is Missing its Bottom Rungs, Says BCD Group Vice-Chairman Ashwinder R. Singh
NewsVoir New Delhi [India], July 30: Warning that the country's housing ladder is losing its crucial first rungs, Ashwinder R. Singh, Vice-Chairman & CEO of BCD Group and Chairman of the CII Real Estate Committee, has raised a red flag over India's shrinking affordable housing supply. Affordable housing is not a second-tier pursuit, and the real estate sector must embrace affordability. Despite India's massive housing shortfall, developers are increasingly turning away from sub-Rs. 50-lakh homes. Singh points out that the trend is being driven not only by tighter margins and heavier regulatory burdens but also by the stigma that still surrounds budget housing in the eyes of the industry. "When a fellow developer recently asked me, 'When will you move beyond budget projects?' he thought he was encouraging me," Singh remarked, highlighting the misplaced perception that affordability equates to underachievement. The numbers paint a stark picture. Nearly half the homes sold in India's top eight cities in the first half of 2025 were priced above Rs. 1 crore, according to Knight Frank India. Meanwhile, affordable housing launches in 15 Tier-2 cities plummeted 67% year-on-year in Q1 2025, based on PropEquity data. Even in seven major metros, sales of units priced below Rs. 50 lakh declined by 14% in 2024, despite record overall residential sales. Singh identifies a "triple penalty" that discourages developers from building affordable homes. First, compressed margins and high input costs make budget projects commercially risky. Second, affordable offerings are seen as diluting brand value, which in turn affects pricing power. Third, capital continues to favour premium projects, with banks and funds applying stricter lending norms and lower exposure limits to budget housing. He further notes that compliance remains disproportionately burdensome, with budget projects facing the same regulatory hurdles as high-end developments. The lapse of the Credit-Linked Subsidy Scheme in 2022 and fragmented state incentives have further weakened the segment's viability. Yet, the market continues to signal strong demand for affordability. As per a blended estimate by CII-NAREDCO, 73% of incremental urban housing demand sits below the Rs. 50-lakh mark, predominantly driven by millennial families looking for shorter commutes. EY data also reveals that nearly a quarter of all mortgage disbursements in the past year were for affordable housing. Calling for urgent reform, Singh outlines five areas of intervention. These include bridging the perception gap through recognition of affordable developers via awards, ESG indices, and REIT weightage; addressing the capital drought through blended finance with first-loss guarantees; streamlining compliance via a digital single-window system with deemed approvals; improving land economics through density bonuses and transferable development rights; and confronting the brand stigma by mandating disclosure of affordability metrics in advertising. Reframing affordable housing as a high-impact sector is essential, Singh argues. "Affordable developers build social mobility; every 1,000 units create about 1,800 direct and indirect jobs," he notes, citing data from the Ministry of Housing. However, industry and media continue to highlight opulence over outcomes, showcasing marble instead of the multipliers that uplift communities. According to a 2024 Times of India analysis, the share of homes priced under Rs. 50 lakh fell from 63% of new launches in 2019 to just 47% in 2023, before plateauing in response to falling interest rates. Singh warns that cyclical rate cuts will not be enough to correct what is now a structural imbalance in the market. In his call to action, Singh urges policymakers to introduce a "Taxpayer Bill of Rights" for developers, setting clear approval timelines with penalties for delay. He recommends that lenders and funds ring-fence a portion of their annual real estate allocations for blended debt in the Rs. 15-50 lakh segment. Developers, meanwhile, must rethink affordable projects as modern communities--EV-ready, climate-resilient, and digitally connected--reflecting the expectations of the next generation. India's urban future cannot rest on luxury towers alone. "A housing ladder without its first two rungs traps families in rental stress, magnifies urban sprawl, and throttles productivity," he writes. If India aims for a $5-trillion economy, it must restore dignity--and profitability--to the business of building affordable homes.
Fashion Value Chain
30-07-2025
- Business
- Fashion Value Chain
India's Housing Ladder is Missing its Bottom Rungs, Says BCD Group Vice-Chairman Ashwinder R. Singh
Warning that the country's housing ladder is losing its crucial first rungs, Ashwinder R. Singh, Vice-Chairman & CEO of BCD Group and Chairman of the CII Real Estate Committee, has raised a red flag over India's shrinking affordable housing supply. Affordable housing is not a second-tier pursuit, and the real estate sector must embrace affordability. Ashwinder R. Singh, Vice-Chairman & CEO of BCD Group and Chairman of the CII Real Estate Committee Despite India's massive housing shortfall, developers are increasingly turning away from sub-Rs. 50-lakh homes. Singh points out that the trend is being driven not only by tighter margins and heavier regulatory burdens but also by the stigma that still surrounds budget housing in the eyes of the industry. 'When a fellow developer recently asked me, 'When will you move beyond budget projects' he thought he was encouraging me,' Singh remarked, highlighting the misplaced perception that affordability equates to underachievement. The numbers paint a stark picture. Nearly half the homes sold in India's top eight cities in the first half of 2025 were priced above Rs. 1 crore, according to Knight Frank India. Meanwhile, affordable housing launches in 15 Tier-2 cities plummeted 67% year-on-year in Q1 2025, based on PropEquity data. Even in seven major metros, sales of units priced below Rs. 50 lakh declined by 14% in 2024, despite record overall residential sales. Singh identifies a 'triple penalty' that discourages developers from building affordable homes. First, compressed margins and high input costs make budget projects commercially risky. Second, affordable offerings are seen as diluting brand value, which in turn affects pricing power. Third, capital continues to favour premium projects, with banks and funds applying stricter lending norms and lower exposure limits to budget housing. He further notes that compliance remains disproportionately burdensome, with budget projects facing the same regulatory hurdles as high-end developments. The lapse of the Credit-Linked Subsidy Scheme in 2022 and fragmented state incentives have further weakened the segment's viability. Yet, the market continues to signal strong demand for affordability. As per a blended estimate by CII-NAREDCO, 73% of incremental urban housing demand sits below the Rs. 50-lakh mark, predominantly driven by millennial families looking for shorter commutes. EY data also reveals that nearly a quarter of all mortgage disbursements in the past year were for affordable housing. Calling for urgent reform, Singh outlines five areas of intervention. These include bridging the perception gap through recognition of affordable developers via awards, ESG indices, and REIT weightage; addressing the capital drought through blended finance with first-loss guarantees; streamlining compliance via a digital single-window system with deemed approvals; improving land economics through density bonuses and transferable development rights; and confronting the brand stigma by mandating disclosure of affordability metrics in advertising. Reframing affordable housing as a high-impact sector is essential, Singh argues. 'Affordable developers build social mobility; every 1,000 units create about 1,800 direct and indirect jobs,' he notes, citing data from the Ministry of Housing. However, industry and media continue to highlight opulence over outcomes, showcasing marble instead of the multipliers that uplift communities. According to a 2024 Times of India analysis, the share of homes priced under Rs. 50 lakh fell from 63% of new launches in 2019 to just 47% in 2023, before plateauing in response to falling interest rates. Singh warns that cyclical rate cuts will not be enough to correct what is now a structural imbalance in the market. In his call to action, Singh urges policymakers to introduce a 'Taxpayer Bill of Rights' for developers, setting clear approval timelines with penalties for delay. He recommends that lenders and funds ring-fence a portion of their annual real estate allocations for blended debt in the Rs. 15-50 lakh segment. Developers, meanwhile, must rethink affordable projects as modern communities-EV-ready, climate-resilient, and digitally connected-reflecting the expectations of the next generation. India's urban future cannot rest on luxury towers alone. 'A housing ladder without its first two rungs traps families in rental stress, magnifies urban sprawl, and throttles productivity,' he writes. If India aims for a $5-trillion economy, it must restore dignity-and profitability-to the business of building affordable homes.
Business Standard
02-06-2025
- Business
- Business Standard
BHARAT 2030: Tier-II & III Cities Will Shape India's Rs. 10 Lakh Crore Real Estate Future
NewsVoir New Delhi [India], June 2: As India's real estate growth enters a new phase, a silent but significant transformation is underway that is shifting the centre of gravity away from the country's traditional metros. In his latest strategic report titled "BHARAT 2030: The Silent Surge of Tier-II and Tier-III Cities", Ashwinder R. Singh--Chairman of the CII Real Estate Committee (North), Vice Chairman of BCD Group, and Advisor to NAR India- maps the future trajectory of growth and inclusion in Indian real estate. As per the report, the new wave of expansion is not driven by temporary demand overflow, but by long-term structural shifts in aspirations, affordability, and accessibility. Tier II cities like Raipur, Salem, Belagavi, Hosur, Jabalpur, Aurangabad, Tirunelveli, Siliguri, Baddi, Udaipur, and Warangal are emerging as the real engines of India's next growth story. Tier III cities like Ayodhya, Dharwad, Sangli, Haldwani, Ajmer, Barshi, Kharagpur, Nanded, Agartala, and Kollam have historically remained under the radar but are now stepping into the spotlight, building the next Rs. 10 lakh crore of India's real estate economy. Ashwinder R. Singh - Chairman of the CII Real Estate Committee (North), Vice Chairman of BCD Group, and Advisor to NAR India, states, "For decades, India's real estate narrative revolved around the top 7-8 metro cities. But that story is being rewritten. What we're witnessing is not just spillover from saturated metros; it's a fundamental reshaping of the growth landscape. Cities once considered peripheral are now emerging as vibrant hubs for housing, employment, infrastructure, and investment." The report identifies this shift not as a cyclical deviation from the dominance of metros like Delhi, Mumbai, or Bengaluru, but as a deeper reordering of India's urban development model. It pinpoints the specific growth corridors that exemplify this transformation. Bhubaneswar is leading the way with walkable neighbourhoods rooted in smart city design and cultural context. Jabalpur and Gwalior are witnessing township-led growth spurred by improved highway networks and air connectivity. Cities like Salem and Tirunelveli are becoming health-tech magnets, following the lead of Coimbatore. In central India, warehousing hubs are emerging in Raipur, Siliguri, and Belagavi, driven by their strategic locations and enhanced connectivity. Industrial corridors in Hosur, Aurangabad, and Pithampur are evolving into EV manufacturing zones, generating demand for both workforce and executive housing. Even the knowledge suburbs of Chandigarh, such as Baddi, Barotiwala, and Derabassi, are transforming from industrial satellites into integrated living ecosystems. Meanwhile, cities like Lucknow and Ayodhya are undergoing a renaissance, fuelled by government investment, institutional development, and spiritual tourism. One of the most powerful insights from Singh's report is that infrastructure in these cities is leading development. Infrastructure in Tier-II and Tier-III cities is becoming the new imperative for Indian real estate, with expressways, regional airports, railways, and metro lines laying the groundwork for expansion. Corporates are entering early, drawn by cost advantages and access to local talent. Land remains both affordable and available, enabling large-scale, community-led developments. Rising household incomes, improved education, and digital reach are driving aspirations upward. Besides, local governments are offering faster approvals and policy support, making these cities more investor-friendly. The growing trend of reverse migration is further accelerating this shift, as people return home in search of a better quality of life. In terms of strategy, the report encourages developers to enter early, focusing on plotted developments, affordable housing, and township models, while partnering with local players and ensuring timely delivery to build trust and value. Investors need to look beyond the herd, identifying locations where infrastructure aligns with policy intent, signalled by upcoming highways, GCCs, rail links, and institutional projects. Policymakers must treat these cities as testing grounds for reform, enabling faster digital approvals, promoting sustainable urban mobility, and incentivising ESG-led development for long-term impact. India@2030 will not be defined solely by the skylines of Delhi, Mumbai, or Bengaluru. It will take shape in the quieter, determined rise of Tier II and III cities. This transformation is about more than just economic growth; it's about achieving balance, enabling inclusion, and unlocking opportunity across geographies. Ashwinder R. Singh is Chairman - of the CII Real Estate Committee (North), Vice Chairman & CEO - BCD Group, and Advisor - NAR India. He has authored three leading industry books, regularly delivers keynotes at top real estate forums, and is widely regarded as one of India's strongest advocates for channel partners and broker networks. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
Fashion Value Chain
02-06-2025
- Business
- Fashion Value Chain
BHARAT 2030: Tier-II & III Cities Will Shape India's Rs. 10 Lakh Crore Real Estate Future
As India's real estate growth enters a new phase, a silent but significant transformation is underway that is shifting the centre of gravity away from the countrys traditional metros. In his latest strategic report titled 'BHARAT 2030: The Silent Surge of Tier-II and Tier-III Cities', Ashwinder R. Singh-Chairman of the CII Real Estate Committee (North), Vice Chairman of BCD Group, and Advisor to NAR India- maps the future trajectory of growth and inclusion in Indian real estate. Ashwinder R. Singh As per the report, the new wave of expansion is not driven by temporary demand overflow, but by long-term structural shifts in aspirations, affordability, and accessibility. Tier II cities like Raipur, Salem, Belagavi, Hosur, Jabalpur, Aurangabad, Tirunelveli, Siliguri, Baddi, Udaipur, and Warangal are emerging as the real engines of India's next growth story. Tier III cities like Ayodhya, Dharwad, Sangli, Haldwani, Ajmer, Barshi, Kharagpur, Nanded, Agartala, and Kollam have historically remained under the radar but are now stepping into the spotlight, building the next Rs. 10 lakh crore of India's real estate economy. Ashwinder R. Singh – Chairman of the CII Real Estate Committee (North), Vice Chairman of BCD Group, and Advisor to NAR India, states, 'For decades, India's real estate narrative revolved around the top 7-8 metro cities. But that story is being rewritten. What we're witnessing is not just spillover from saturated metros; it's a fundamental reshaping of the growth landscape. Cities once considered peripheral are now emerging as vibrant hubs for housing, employment, infrastructure, and investment.' The report identifies this shift not as a cyclical deviation from the dominance of metros like Delhi, Mumbai, or Bengaluru, but as a deeper reordering of India's urban development model. It pinpoints the specific growth corridors that exemplify this transformation. Bhubaneswar is leading the way with walkable neighbourhoods rooted in smart city design and cultural context. Jabalpur and Gwalior are witnessing township-led growth spurred by improved highway networks and air connectivity. Cities like Salem and Tirunelveli are becoming health-tech magnets, following the lead of Coimbatore. In central India, warehousing hubs are emerging in Raipur, Siliguri, and Belagavi, driven by their strategic locations and enhanced connectivity. Industrial corridors in Hosur, Aurangabad, and Pithampur are evolving into EV manufacturing zones, generating demand for both workforce and executive housing. Even the knowledge suburbs of Chandigarh, such as Baddi, Barotiwala, and Derabassi, are transforming from industrial satellites into integrated living ecosystems. Meanwhile, cities like Lucknow and Ayodhya are undergoing a renaissance, fuelled by government investment, institutional development, and spiritual tourism. One of the most powerful insights from Singh's report is that infrastructure in these cities is leading development. Infrastructure in Tier-II and Tier-III cities is becoming the new imperative for Indian real estate, with expressways, regional airports, railways, and metro lines laying the groundwork for expansion. Corporates are entering early, drawn by cost advantages and access to local talent. Land remains both affordable and available, enabling large-scale, community-led developments. Rising household incomes, improved education, and digital reach are driving aspirations upward. Besides, local governments are offering faster approvals and policy support, making these cities more investor-friendly. The growing trend of reverse migration is further accelerating this shift, as people return home in search of a better quality of life. In terms of strategy, the report encourages developers to enter early, focusing on plotted developments, affordable housing, and township models, while partnering with local players and ensuring timely delivery to build trust and value. Investors need to look beyond the herd, identifying locations where infrastructure aligns with policy intent, signalled by upcoming highways, GCCs, rail links, and institutional projects. Policymakers must treat these cities as testing grounds for reform, enabling faster digital approvals, promoting sustainable urban mobility, and incentivising ESG-led development for long-term impact. India@2030 will not be defined solely by the skylines of Delhi, Mumbai, or Bengaluru. It will take shape in the quieter, determined rise of Tier II and III cities. This transformation is about more than just economic growth; it's about achieving balance, enabling inclusion, and unlocking opportunity across geographies. About the Author Ashwinder R. Singh is Chairman – of the CII Real Estate Committee (North), Vice Chairman & CEO – BCD Group, and Advisor – NAR India. He has authored three leading industry books, regularly delivers keynotes at top real estate forums, and is widely regarded as one of India's strongest advocates for channel partners and broker networks.
Fashion Value Chain
14-05-2025
- Business
- Fashion Value Chain
NAR-India Appoints Real Estate Leader Ashwinder R. Singh as Advisor
NAR-India has appointed Ashwinder R. Singh as Advisor for the 2025-2026 term. A senior leader in India's real estate and financial services sectors, Ashwinder currently serves as Chairman of the CII Real Estate Committee (Northern Region) and Vice Chairman & CEO at BCD Group. Ashwinder R. Singh With over two and a half decades of experience across real estate development, institutional lending, and channel partner ecosystems, Ashwinder has held leadership positions at Bajaj Housing Finance, where he co-founded the B2B home loan vertical and managed one of India's most active construction finance portfolios. His earlier roles include CEO of JLL Residential, Co-founder & CEO of ANAROCK, and CEO of Bhartiya Urban, where he led the development of a 150-acre integrated township. In its official communication, NAR-India noted, 'Ashwinder's strategic depth and commitment to industry evolution will significantly strengthen our national vision and stakeholder engagement.' Commenting on his appointment, Ashwinder said, 'It is an honour to contribute to the real estate fraternity through NAR-India. I have always believed that trust, insight, and disciplined execution are the cornerstones of long-term value creation.' Ashwinder is also the bestselling author of three widely acclaimed real estate books – one of which was featured on Shark Tank India – and serves as an advisor to several PropTech and FinTech startups. His appointment comes at a time when India's real estate sector is undergoing rapid transformation, with increasing focus on transparency, digitization, and sustainable growth.
