India's Housing Boom: 100 Million New Homes Needed This Decade
Read more about India's growing demand for housing, driven by rising household incomes and government support.
India Housing MarketReal EstateMacrotech DevelopersKnight FrankDlf LtdReal EstateJun 13, 2024
The Indian government, led by Prime Minister Narendra Modi, has vowed to continue pushing growth in the housing and infrastructure sectors. This has already led to a significant increase in demand, with 2023 being the best year for home sales in at least 15 years.
Real estate consulting firm Knight Frank expects the demand for homes to translate into $906 billion of economic output over the next 10 years. Macrotech Developers, one of India's largest developers, has reported its highest ever quarterly sales, driven by the momentum in the property market.
However, even with a fast pace of growth in the construction sector, it would struggle to meet the demand for 100 million homes over this decade. Macrotech Developers, known for its gated communities in upscale neighborhoods, has expanded its operations to tech hubs like Bengaluru and Pune.
Macrotech Developers Ltd. is a Mumbai-based real estate developer, operating under the brand name Lodha. The company is the second-biggest listed real estate developer by market value, after DLF Ltd. Knight Frank is a global real estate consulting firm, providing research and advisory services to investors and developers. DLF Ltd. is a leading Indian real estate developer, known for its luxury residential and commercial projects.
Frequently Asked Questions
How many new dwelling units does India need to build this decade?
100 million
What is driving the demand for housing in India?
Rising household incomes and government support
Which real estate company is leading the charge in India's housing market?
Macrotech Developers Ltd.
What is the expected economic output from the demand for homes in India?
$906 billion over the next 10 years
What is the current state of India's property market?
The market has heated up since the pandemic, with 2023 being the best year for home sales in at least 15 years
Related News Articles
CapitaLand Invests Big in India Ahead of PM Modi's Singapore Visit
Singapore's real estate giant CapitaLand announces $14.8 billion investment in India by 2028, coinciding with PM Modi's visit to Singapore.
India's Luxury Real Estate Market Booms with 37.8% Sales Growth in 2024
India's luxury real estate market is witnessing a significant surge, particularly in major cities like Delhi-NCR, Mumbai, and Hyderabad. The demand for high-end homes is on the rise, driven by the country's economic growth and changing buyer preferences.
Rahul Gandhi Pledges 'Five Guarantees' for Maharashtra with New Alliance
Rahul Gandhi, the Congress party leader, has announced a new political alliance in Maharashtra with a promise of 'five guarantees' for the state. This move is expected to bring significant changes to the political landscape of Maharashtra, particularly in
Uday Kotak's 10-Point Roadmap for India's Growth in 2025
In a bid to boost India's economic growth, Uday Kotak, the renowned business leader and banker, has laid out a comprehensive 10-point roadmap. This plan focuses on key sectors such as agriculture, real estate, and financial services, aiming to achieve rob
Cooper Opens Advanced Tractor Manufacturing Plant in Maharashtra
On February 1, 2025, Cooper officially inaugurated its state-of-the-art tractor manufacturing plant in Maharashtra. The event also marked the launch of several new initiatives aimed at boosting the local economy and advancing agricultural technology.
RBI Repo Rate Cut Could Push Home Loan Rates Below 8%
The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points, a move that could push home loan rates below 8 percent. This decision is expected to boost the real estate sector, particularly by encouraging more first-time homebuyers to enter the market.