The demand for homes and houses in New Delhi has always been on the rise. In Delhi the total demand for homes has been 4.2 million units between the years 2016 and 2020. This is what current report says. New Residential Projects in Delhi has always been in greatest demand. There are under construction properties. There is even the planned supply 1.0 million housing units and this is intended by the private developers in the coming years. Delhi NCR with places like Ghaziabad, Gurgaon, Noida and Faridabad will continue to acquire the portion of the demand of 24% and this will be on 1 million units by the end of the year 2020.
The report says there is the new era withstanding both growth and investment. The LIG or the low income group housing plans are below the periphery of 15 lakhs. This is the most under serviced portion. In fact, it is known that LIG is sure to generate the demand around 1.98 units with the end of the year 2020. Things are supplied by the private developers and the demand is barely going to be now 25,000 units. There is even the MIG or the middle income group. They belong to the periphery between 15 to 70 lakh.
In case of the MIG it is an estimation of 63% in case of the absolute housing supply. This includes Delhi and the other cities between the years 2016 to 2020 and the estimation is surely 647,000 units. The demand can even be higher and it can be as much as 14, 57,000 units. In case of MIG of HIG there is the portion of the unsold inventory. These properties are simply absorbed as they are not able to demonstrate the right value in case of the buyers. These are units to fall beyond the line of preference may be due to high price and at times location may also be the factor.