11.8 million new homes needed in India by 2016

In order to meet the huge demand for housing from the indigenous population and overseas investors, according to a report from real estate consultants Cushman & Wakefield. Much of the demand is focused on the major cities - Mumbai, Delhi, Bangalore, Chennai, Pune,
Ahmedabad and Kolkata. Investors have been attracted to India booming economy and rising property prices, especially in the country wealthier areas, where buyers are building modern and forward thinking architecturally stunning homes. ‘The demand in the leading eight cities is a reflective of the economic strength that these cities have, that attracts new settlers as well as creates a conducive environment for natural population growth,said Mr Sanjay Dutt, Executive Managing Director of Cushman & Wakefield India.
Topix, 17th Oct 2012

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