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There is shortage of nearly 20 million homes in India. Demand in < INR 1.5 Mn is 1.98 mn units by 2020; Demand in INR 1.5-7.0 Mn price category is 1.5 mn units and accounts for 63% of the total housing supply. Expect many developers to launch affordable homes in addition to targeting middle income and affluent population in India. Coupled with the infrastructure status and interest subvention, housing for all is no longer a pipe dream. This augurs well for elevator manufacturers as these measures are expected to spur the demand for g+4/5 buildings in the low cost segment. Elevator manufacturers have to introduce low-cost models to meet the price sensitive segment’s demand. This can only be achieved by setting up local manufacturing units in order to source raw materials and manpower at competitive prices. It also fulfills the other intended objective of “Make-in-India"
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