A fresh demand
for about 1.2 Crore housing units is expected to be generated over the next 5
years Pan India, global property consultant Cushman & Wakefield said in a
report.
The annual report “Evolving Paradigm—Future Of Indian Real Estate” is in association
with Global Real Estate Institute (GRI)
Highlights
of Cushman & Wakefield Report..!
** The total new
demand that could be generated for residential dwellings in the period 2012 to
16 will be 1.18 Crore units Pan India. Of the total additional demand, the top
eight cities will be constituting 18% or 21 lakh units across categories.
** Nearly 20% of this additional demand would be in top 8 cities in India. These 8 cities are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR & Pune.
** The additional demand that can be generated in 2012 to 2016 is calculated based on the past trends for population & household growth and the income classification for the households.
The Ministry of Housing and Urban Poverty Alleviation estimates such demand resulting from housing shortages at 18.78 million units for the entire country.
Cushman & Wakefield estimates do not
consider the investors demand. Of the total additional demand in the top 8
cities, demand for mid segment is estimated to be highest at nearly 59% or 1.3
million units, followed by demand in the high-end segment which is 4,51,000
houses. ** Nearly 20% of this additional demand would be in top 8 cities in India. These 8 cities are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR & Pune.
** The additional demand that can be generated in 2012 to 2016 is calculated based on the past trends for population & household growth and the income classification for the households.
The Ministry of Housing and Urban Poverty Alleviation estimates such demand resulting from housing shortages at 18.78 million units for the entire country.
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