Housing and Construction Industry in India

INTRODUCTION

Indian industry body, ASSOCHAM, asserts that housing demand is poised to see a growth of around 80 Million for the lower-income and the lower-middle income groups. Housing Sector in India is also likely to generate around 4 Million new jobs within a decade with a whooping investment of US$ 670 Billion. It’s also expected that housing and real estate sector will undergo a revolutionary transformation.

Housing and construction industry of India is growing at a tremendous speed. Number of housing development companies and builders are coming up and investing in residential property.

The construction industry is an essential contributor to the process of development. Roads, dams, irrigation works, school, house, hospitals, factories and other construction works are the physical foundation on which development efforts and improving living standards are established. The products of the construction industry are investment or capital goods. Thus construction industry has linkage with rest of the economy in terms of generation of output and employment.

The following project attempts to understand the Housing and Construction Industry in India. An example of Hiranandani gardens, Mumbai is given.

PROJECT CONTENTS