Advisory Center for Affordable Settlements & Housing

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Document Type General
Publish Date 04/04/2018
Author
Published By Conrad D’Souza
Edited By Arslan Hassan
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INDIA, FOSTERING AFFORDABLE HOUSING MARKETS: CATERING TO THE UNMET DEMAND

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Document Type: General
Publish Date: April 4, 2018
Primary Author: Conrad D’Souza
Edited By: Arsalan Hasan
Published By: Conrad D’Souza

Presently India is among the fastest growing major economies in the world. Its economy’s huge size catering the needs of a big population of 1.3 billion (population wise 2nd biggest country in world), of which 66% is under 35 years of age has a great demand for housing almost all segments of the market. India’s current urbanization position is 32%, or 377 million, of total population, which is expected to rise to 40%, or 600 million, by the year 2030. India’s housing shortage presently is calculated at 18.8 million, which will also exponentially increase by 2030. India’s per capita income has risen from USD 1,345 in 2010 to USD 1,860 in 2016. This is also contributing to people’s hope, desire and capability of purchasing a decently affordable house for their own. As the fast growing economy, people’s purchasing desire as well purchasing power is also on the increase.

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