Press Release Summary = With more people flocking to cities to join the economic growth procession, India needs to invest $60 Billion to construct housing facilities in urban zones to ease the growing pressure from housing space.
Press Release Body = Stressing on the necessity of planned urban development involving the private sector, government and other bodies, Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, said \"Rural areas are more deprived and they need more subsidised infrastructure compared to urban areas which are relatively well off.\"
Ahluwalia added, "There is a shortage of 25 million houses in the urban areas and in order to fill this gap, there is a need of $60 billion\". He was addressing the conclusion conference on Housing & Human Settlements of Asia-Pacific Ministerial Conference.
He stated that the efforts made in the last fifty years to providing services to combat the growing urbanization were very limited. He cleared that large investments needed in rural areas to build infrastructure can't be fulfilled by the Center alone and there is an urgent requirement to lock funds from states.
Ahluwalia stated, \"However, a faster growth rate would mean that pressure would be there on the system to provide a more inclusive growth\". He cautioned that the Asia-Pacific area is going through a phase of rapid growth and more and more countries joining this area would have to encounter the problem of increased urbanization due to rapid structural changes.
According to a Research Analyst at RNCOS, who has recently researched a report called "Opportunities in Indian Housing Sector (2006-2007)", the immensity of the shortage of housing facilities will be borne by lower income group (LIG) and economically weaker sections (EWS) classes. Those with 'buying capacity', i.e., middle and higher income categories (MIG and HIG), are however, anticipated to be served by the market forces, or more precisely, the private housing sector.
The market research report also addresses the facts and issues that are critical to your business success:
§ Insight into market trends § Growth sectors and factors bringing change § Housing industry promoted and supported by housing finance companies in India § States in India that will have the highest demands for the houses by the year 2010 § Opportunities, key challenges and strategies § Future outlook
The report further provides in-depth research and rational analysis on the growing housing industry in India, its components and supporting finance structure.
About RNCOS: RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
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