New Delhi, Jan. 22 -- The Indian housing finance sector is witnessing a significant shift toward premium developments, but for the industry to remain sustainable and inclusive, a renewed focus on affordable housing is essential.

Mehernosh Tata, CEO of Godrej Housing Finance, highlighted in a recent ANI interview that while the real estate market in top cities is currently favoring luxury homes priced above Rs 1 crore, there is an urgent need to cater to the mid-income segment.

He emphasised that the definition of "affordable housing" requires an immediate update to reflect current market realities, suggesting that "the definition should be closer towards one crore so that it encourages the real estate developers to build these homes for...