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News Details
Posted Date : 10/9/2009 3:06:02 AM
News Headlines : Demand For Housing To Cross 75Lakh Units In 5Yrs, As Per A Report
News Details :  23 Sep 2009 Business Standard
The overall demand for housing in India is likely to cross 75 lakh units within the next five years, while the same for commercial space will reach 195 million sq ft, indicating a revival in the realty sector. According to a report by global real estate consultant Cushman $ Wakefield (C&W), the cumulative demand in the residential sector will be about 75.43 lakh units between 2009 and 2013. The demand in the housing segment this year is estimated to be 11.96 lakh units and is expected to grow by over 55 per cent to reach 18.64 lakh units in 2013, the report said. In the commercial space, the consultancy said the total five-year demand would be 196.3 million sq ft from the estimated 26.5 million sq ft in this year. In 2013, the demand might touch 53.9 million sq ft. Out of the total commercial demand, about 42 per cent is expected to be generated in the Tier I and II cities.
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