In its latest report it has said that the availability of affordable housing in adequate numbers is one of the greatest necessities of urban India. Indian cities fall short of planned housing for LIG (low income group) and EWS's (economically weaker sections.) This has meant a perennial and ever growing shortage.
According to its assessment, this is detrimental to the planned growth of cities and also means demography of less than equal citizens forced to live in substandard clusters.
JLL finds that Indian developers are primarily targeting luxury, high end & upper mid housing segment. Value housing is being used as a saviour in the low phases of real estate cycles.
The 2011 census showed the country’s population at about 121 crore. Of this, 37.70 Crore live in urban areas. The housing stock in urban area is 7.85 crore households. While the gap between household & housing stock is narrowing, actual shortage is high due to certain part of the current stock being dilapidated and people living in congested dwellings.
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