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
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