According to report released by PropEquity, a real estate consultant, the affordable housing segment that played a major role in keeping Indian real estate giants afloat in the time of the crisis is slowly losing its sheen as buyers are now ready to upgrade to higher segments.

Samir Jasuja, Managing Director, PE Analytics Pvt. Ltd said that though the demand in the affordable housing segment is still sustainable, it is showing shines of a fall. Jasuja also mentioned the fact that there is a genuine demand as far as the mid-housing segment in concerned in the Indian market.

Shveta Jain, Director, Residential Services at international property consultant firm Cushman and Wakefield India, said that as the aspiration level of the people residing in the Metros are high, they now look at stretching their budgets and hunt for a better housing complex that suits their demands.

It is believed that factors like reduced home loan rates and better incentives in terms of discounts are the major factors that are driving the demand for the mid-level segments in the country.