Study shows 62 mn houses needed to ensure a home for all
Alternative methods of providing a home to them need to be implemented in urban areas to provide housing to EWS (economically weaker section) and LIG (low income group) categories.
Cushman & Wakefield and Credai conducted a study, Housing: The Game Changer, according to which, 62.45 million units need to be built to fill the demand supply gap. India, contrary to US and China, has low mortgage to GDP ratio. Lending to lowermost segments of the society (loans upto Rs. 5 Lakhs) constitutes just 22.75 percent of the total lending to housing sector in 2010 as per data from public sector banks. The disbursed are not great in number, despite the fact that there is a priority sector tag attached to it. However, in no case should we overdo it, like the USA.
Per capita real estate production is more than 3.5 times in China when compared to India. The population size is somewhat similar. Another noteworthy fact is that India receives low cross-border real estate investment.
Source: Moneycontrol
CREDAI, Cushman & Wakefield, EWS (economically weaker section), home, home for all, Housing, LIG (low income group), Real estate study
