Nov. 26, 2006 – Indian industry body, ASSOCHAM, asserts that housing demand is poised to see a growth of around 80 Million for the lower-income and the lower-middle income groups. Housing Sector in India is also likely to generate around 4 Million new jobs within a decade with a whooping investment of US$ 670 Billion. It’s also expected that housing and real estate sector will undergo a revolutionary transformation to grow at around 14% annually. Presently, the contribution of Indian Housing to the country’s GDP is modest at less than one percent.
It was also estimated by a research firm that by 2010 the demand would further grow to a massive volume of around 400 Million Units. This will necessitate a minimum outlay of US$ 890 Billion. There is a shortage of more than nearly 20 Million housing units in India and this is a positive sign of the untapped opportunities for this sector.
RNCOS’ recent report “Opportunities in Indian Housing Sector (2006-2007)”, talks about the Housing and real estate industry and its impact on the other sectors of the economy. Experts highlight that for every unit added as expenditure, there are rippling effects on income generation capacity, with an increase of approximately 400%. Looking at the impressive pace of the Indian economy in general and housing sector in particular, it can be fairly concluded that the housing sector will grow at around 14%. The sector will also contribute to employment generation with a capacity of creating roughly 3.2 Million new job opportunities in the coming decade.
The research report also addresses the issues and facts that are critical to business success:
– The factors contributing to the growth of the Housing Industry in India.
– The regional distribution of housing demands by the year 2010.
– The reasons for slower growth of housing sector in India.
– The role played by housing finance companies in India.
– The share of India in Asia’s Real estate industry.
RNCOS’ “Opportunities in Indian Housing Sector (2006-2007)”, report provides extensive research and objective analysis on the growing housing industry, its components and the supporting financing structure.
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