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Housing Shortage - How do we meet the demand???

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Housing Shortage - How do we meet the demand???

Last updated: June 21 2008
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  • Housing Shortage - How do we meet the demand???

    Housing Shortage.....How do we meet the demand???

    Demand for homes near the capital New Delhi helped DLF complete India's biggest initial public offering this year. The July IPO lifted the fortune of Chairman Kushal Pal Singh, 76, to $35 billion, making him the world's richest property tycoon, according to Forbes.

    The government's five-year plan estimates a housing shortage of about 24.7 million units. Almost half of the 210 million households still live in temporary shelters, implying a significant demand for low-income and mid-income housing.

    "This is a sunrise industry and we have just started off,'' said Pradeep Jain, chairman of Parsvnath Developers Ltd. who is ranked by Forbes as India's 46th wealthiest person. "We could see 30 to 40 new billionaires from the real-estate sector next year.''
    Real estate - A sunshine industry. But is there enough sunshine for all?

    What's your take on this?
  • #2

    #2

    Re : Housing Shortage - How do we meet the demand???

    This is a slight deviation from the Housaing policy discussions/forum...
    I am given to understand that the Central Government is making it mandatory for all States to enact/modify the existing laws/rules w.r.t. developers undertaking new colonies/layout developments/group houisng schemes wherein a certain percentage of the dwelling units/flats are required to be set apart for social groups like EWS and LIG in the new colonies/group housing schems/townships and dispose of only to such segments in such sites.
    Have any of the States enacted such rules? How can the develoepr acheive such a social mix where the land values are exhorbitant and affordability question comes not only in terms of financial but also in terms of social and cultural values, etc. Also would not these provisions be challengable in court of law legally ? Any ideas/suggestions?
    This would surely in a way mitigate teh housing shortage if develoeprs are able to create markets and cater to the above segments...

    -visista

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    • #3

      #3

      Re : Housing Shortage - How do we meet the demand???

      Foreign investment

      It is a tough problem finding a good balance between covering domestic demand and foreign demand for housing (who are willing to pay higher prices than most locals).

      What are the options to give Indian people their right to housing without dispelling foreign investors and expats?
      “He who marries for love without money has good nights and sorry days.” - Old proverb

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