Is real estate sector in India neglected?
Housing for the country’s entire urban population of 400 millions is a distant dream and the reasons for this are well documented. Different segments of population need different type of housing with affordability being the main criteria. The urban poor and the millions of workforce living in slums or near slum like conditions with poor sanitation, infrastructure and amenities need what can be called as “workforce housing.” The luxury segment needs luxury housing which will be gated and cater to their life style. Housing needs for the single and working men and women, for the senior citizens in the form of comfort and retirement homes, specialised housing and assisted care for the aging population and the demand for commercial and industrial units need to be catered to. The importance of real estate to the Indian economy can be gauged by the following facts: The housing sector has been growing at an average of 34 per cent annually, while the hospitality industry witnessed a growth of 1
