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19m urban housing shortage in India

Comments(3) Sub Category:Mumbai,Real estate trends,Residential Real Estate Posted On: Sep 26, 2012

A recent report shows that although India’s urban housing shortage has decreased, the phenomenal housing growth has not been able to curtail housing shortage in Indian cities to a large extent.

Indian cities are short about 19 million homes. The scenario has improved over 2007, when the national urban housing shortage was estimated at 24.7 million.

The shortage indicates that much of the construction across the nation are homes that are affordable only by upper-middle-class or wealthy families, while a quarter of the population are living in shabby, makeshift dwellings.

The analysts feel that the policy makers have to offer better incentives for developers to construct affordable housing, so that the shortage can be addressed.

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