India, Aug. 29 -- India faces an urban affordable housing shortage of 9.4 million-a gap that could swell to 30 million units by 2030 unless urgent reforms are undertaken, a new report by the National Real Estate Development Council (NAREDCO) and real estate consultancy Knight Frank India released on Friday said.

The report-India Affordable Housing: Tackling Urban Housing Deficit Through Supply-Side Reforms-said that despite flagship government schemes such as the Pradhan Mantri Awas Yojana, supply has sharply declined. Affordable homes priced below Rs.5 million accounted for 52.4% of new launches in 2018, which decreased to 17% in 2025 across the top eight cities.

"The EMI-to-income ratio for Economically Weaker Section (EWS) households...