By Sobia Khan, Economic Times Bureau
BENGALURU: The total demand for urban housing is estimated at 4.2 million units during the period 2016-2020 across the top eight cities, as per report released by Cushman & Wakefield and GRI mentioned.Correspondingly, the existing under-construction and planned supply of one million housing units by private developers is expected to be delivered across top eight cities during the said period. Delhi-NCR (NCT, Ghaziabad, Faridabad, Gurgaon and Noida) continues to garner the highest demand.
The urban housing demand is the highest in Delhi-NCR across all 3 segments amongst the top 8 cities, forming nearly 24-26% of the demand in each of the categories. New Delhi leads with demand of 1,000,000 units and Mumbai and Bangalore will follow Delhi-NCR and are expected to generate housing demand of about 711,000 and 686,000 units respectively over the next five years.