In India, 11.2% in Rural and 7.2% in Urban Areas constructed or purchased a house after 31 March 2014. The 78th Round of the National Sample Survey revealed the data. Rural Indians dominate new houses purchase.
Rural Indians dominate in new houses purchase
At an all-India level, the percentage of surveyed households that constructed or purchased any house stands at 11.2 for rural areas and 7.2 for urban areas.
Further, the percentage of those who purchased or constructed any house for the first time stands at 47.5 and 57.9 for rural and urban areas respectively.
It shows that while rural areas lead in the purchase or construction of houses/flats, less than half of them are purchased/ constructed for the first time. Six out of every ten households who constructed/purchased houses/flats in urban areas are first-timers.
Among the social groups, STs dominate in the percentage of those who purchased or constructed houses/flats after 2014, including g for the first time, in rural areas. OBCs dominate in urban areas in the above parameters.
The larger floor area of rooms in urban areas
Newly constructed/purchased houses or flats in urban areas have bigger floor area and also has a greater number of living and other rooms as compared to rural areas.
From the data on first-time purchases/constructions, it is apparent that urban areas dominated rural areas.
Interestingly, more than 44% of the households in rural areas have an average floor area between 30 to 60 square meters, while a similar share of urban households has an average floor area between 60 to 160 square meters. To say, the maximum floor area for rural households is the minimum floor area for urban households.
State-level house purchase
Chhattisgarh & Telangana have seen more first-time purchasers in rural areas than in urban areas. Telangana, Chhattisgarh, and Jharkhand are the only three states among large states that have seen rural areas dominating urban areas. Rest all major states have urban areas featuring more first-time purchases/constructions than rural areas. reportsrecords.com
Source of funding
Among 18 major states, only Madhya Pradesh and Odisha have a greater share of people with ‘banks’ as the primary source of funding in rural areas as compared to urban areas.
Punjab is the only state, where people sourcing finance from ‘other sources’ are higher in rural areas than urban areas.
