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Housing need for the HIG housing is likely to rise massive housing demand in Delhi-NCR. significantly. Exclusive residential housing Nearly 81percent demand is likely to arise options targeted at the CXOs will also be from the LIG and MIG, with an equal in high demand during the future periods. contribution from both segments. Delhi-NCR is likely to have the highest CHENNAI supply of around 516,000 units slated to be delivered in the next five years. segments compared to all other metros. Around 60 per cent of the supply will cater Majority of the demand (53 per cent) is to the MIG and an additional 30 percent likely to emanate from the LIG, followed to the LIG. With increasing population, by 34 per cent from the MIG and 13 per cent rapid urbanization and increasing from the HIG. industrialization, the demand for the LIG Supply of around 66,000 units is likely to With cumulative requirement of around housing units is likely to grow higher in the be infused in Kolkata until 2018. However, 334,000 housing units until 2018, Chennai future periods. though the LIG demand is significantly is the third-highest demand generator high, majority of the supply is targeted at amongst the top eight cities of India. HyDErAbAD the MIG and HIG. Thus, this mismatch in Chennai’s traditional importance as a demand-supply leads to sluggish sales port city and educational centre of the and inventory pile-up in the markets. south remains unchanged. In addition, the increase in IT-ITeS activities and PUNE establishment of large manufacturing set- ups is driving residential housing demand across various locations. Of the total With an estimated overall demand-supply cumulative demand, nearly 43 per cent is gap of around 231,000 units (until 2018), likely to arise in the LIG and an additional Hyderabad is likely to witness one of the 38 per cent in the MIG. highest shortfall due to the comparatively As per the estimates, nearly 87 per cent of low supply scheduled to be delivered in With flourishing IT-ITeS businesses and planned supply is likely to cater to the MIG the next five years. Until 2018, Hyderabad manufacturing activities, Pune has been only, creating a large demand-supply gap is expected to witness an additional witnessing an unprecedented growth in the LIG and HIG. Overall, with a gap demand of around 291,000 units across all in population, primarily due to a large of around 233,000 units, Chennai ranks segments. Of this total demand, the LIG is increase in migrant population. Due to amongst the top cities having a housing expected to be 42 per cent and the MIG this, the demand for residential housing shortfall during the next five years (until around 36 per cent. Steady growth in the units has been on a rise and by 2018 end; 2018). High gap is primarily due to a services sector, mostly driven by IT-ITeS around 191,000 units will be required in significantly low supply (around 102,000 sector has been responsible for migration the city. Pune is likely to witness maximum units) in the next five years, primarily due of people from across the country to the requirement in the LIG and MIG, together to stretched timelines because of delays city. With the political uncertainty (over accounting for around 82 per cent of the in securing necessary approvals for new the Telangana issue) being sorted and demand and equally distributed amongst projects. considering that the city already possesses the two categories. ready physical and social infrastructure, The supply projected until 2018 end is only DELHI-NCr Hyderabad is poised for higher growth in to the tune of 78,000 units, translating into the future periods. As companies begin a significant housing shortfall in the city. expanding their operations in the city, Although majority of the supply (72 per housing demand is likely to increase cent) is planned in the MIG, the demand significantly. for these units will remain unfulfilled. Low levels of supply (61,000 units) is However, there is likely to be a significant likely to be infused in the next five years demand-supply gap (60 per cent shortfall) Delhi-NCR is expected to witness the highest in Hyderabad. Majority of this supply (63 for the LIG, which needs to be addressed demand of around 818,600 units across all per cent) is expected to be in the MIG, 21 by developing relevant housing units. With segments during 2014-2018. Delhi-NCR’s percent in the HIG and remaining 17 per large global corporations deputing their economy thrives on a plethora of activities cent in the LIG. Hyderabad will witness top executives in the city, the demand in the such as the services including IT-ITeS significant shortfall, of around 111,000 HIG also seems to be on a rise and shortfall and BFSI, the public sector undertakings units, in the LIG residential housing units. in this category also has to be addressed. and government administrative units Moreover, there is also a huge requirement and manufacturing units of varied scale. KOLKATA by NRIs and buyers/investors from Mumbai Good employment opportunities along Kolkata is expected to witness the lowest looking to purchase an apartment in Pune with a large geographical spread leads to demand at around 97,300 units across as their second / retirement home. u 26 construction opportunities|NOVEMBER 2014
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