Delhi-NCR to top housing demand | Report
Total demand for urban housing is estimated at 4.2 million units during the period 2016-2020 across the top eight cities, according to a report.
Existing under-construction and planned supply of 1.0 million housing units by private developers is expected to be delivered across top eight cities during the said period, said the report released by Cushman & Wakefield and GRI. Delhi-NCR (Gurgaon, Ghazia-¡bad, Faridabad and Noida) continues to garner the highest proportion of demand of 24 per cent at around 1 million units by the end of 2020, said the report titled ´Revitalising Indian Real Estate: A new era of growth & investment´. LIG (low income group) housing, below Rs 15 lakh, is the most under-serviced segment. While the LIG is likely to generate demand of about 1.98 million units by 2020, supply by private developers is going to be barely 25,000 units. Delhi-NCR is expected to have the highest demand in all the three segments in the period 2016-2020. Mumbai is expected to follow Delhi-NCR in terms of housing demand.