Rental housing market in India

Abstract

India has urbanized at a rapid pace. On the downside, it has resulted in severe shortage in housing for its ever increasing population. It is estimated that 18.8 million houses were in shortage during the 12th Plan (NURHP, October 2015 Draft). The Government’s efforts over the years to provide affordable housing for all has not been successful. A large percentage of population are out of the ownership market due to affordability as they have very low disposable incomes. But on the bright side, there are 11.1 million houses vacant in the country (Census 2011). There is a dire need for the country to spruce up its rental housing market to cater to at least some part of the housing issue.