1 year ago
Deepak Parekh: More Focus Needed on Middle-Class Housing
Deepak Parekh, a big name in finance, says we need to build more homes for the middle class because right now, most new houses are for rich people.
He says this is a big mistake because lots of people, about 750 million, will be in the middle class soon, and they need homes.
He hopes things get better in the second half of this year and that banks will help companies that lend money for homes more.
Parekh also believes financial companies need to be trustworthy, understand what people need, and be ready for the future.
Deepak Parekh emphasizes the need for increased focus on middle-class housing.
Parekh states the housing market is skewed towards premium and high-end sectors.
He believes the supply to middle-income and affordable housing segments has diminished.
India's middle class is projected to reach 750 million by 2030, presenting a significant opportunity.
Parekh anticipates improved urban demand and enhanced banking support for NBFCs.
- Who
- Deepak Parekh, Chairman HDFC Asset Management Co and former chairman of HDFC Bank.
- What
- Deepak Parekh discussed the need for increased focus on middle-class housing.
- Where
- Not explicitly mentioned.
- When
- At the FE Modern BFSI Summit on Friday.
- Why
- To address the dwindling supply of middle-income housing and the growing middle class.
Current Market Issues
No opposing sides present
Housing Supply
Current Market Issues
Housing market skewed towards premium and high-end sectors, not enough for middle-income
No opposing sides present
No differing perspective present.
Key facts
- Speaker
- Deepak Parekh
- Position
- Chairman HDFC Asset Management Co, former chairman of HDFC Bank
- Event
- FE Modern BFSI Summit
- Issue
- Focus on Middle-Class Housing
- Middle Class Cohort (by 2030)
- 750 million
- Expectations
- Improved urban demand, banking support to NBFCs
Sources
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