Originally Published by Bloomberg Politics (www.bloomberg.com)
When he was little and his father was building his taxi business, Pradeep Yadav lived in a “chawl,” a rundown tenement in India’s financial capital, Mumbai. The apartment had one light, a fan and water for just two hours a day.
Now he stands at the vanguard of a potential housing boom that brokerage CLSA India Pvt. estimates could reach $1.3 trillion in the next seven years. With their three boys finished university, the family bought a flat in Palava City, a leafy township on the edge of the metropolis. Outside their balcony, tidy footpaths wind their way past manicured gardens and a swimming pool glints in the summer heat.