Released on = November 8, 2006, 11:29 pm

Press Release Author = Shushmul Maheshwari

Industry = Retail

Press Release Summary =
In the year 2007, there’ll be a strong demand for housing in India, however
prices may slide in the larger cities of the country, said the chairman of housing
finance companies’ regulator.


Press Release Body = Boosted by rising incomes and scarce land, prices of houses in
metropolitan cities like Delhi, Mumbai, Kolkata, Chennai, and Bangalore are
currently increasing at 30-40% per year. NHB (National Housing Bank) has estimated
the overall housing shortage to be at 31.1 Million Units, specifically in Rural
India.

Property funds have now assets of about US$ 4.7 Billion following an economic
expansion period, historically low interest rates and tax breaks. India’s
retail property market was around US$ 292 Billion in 2004, as per ICICI Bank Ltd-
the 2nd largest lender of the country, and is likely to reach US$ 463 Billion by the
year 2010. NHB also plans to introduce reverse mortgages by 2006. This’ll
enable retired people to get a regular income for 15 years.

RNCOS has recently published a report “Opportunities in Indian Housing Sector
(2006-2007)”. According to this report, “NHB has started a program named
Productive Housing in Rural Areas (PHRA) for provide a platform that’ll help
achieve its aims in rural housing finance. This will, definitely, improve the
housing finance’s demand in rural sector. Currently, below 15% of the total
housing loan disbursements go into rural areas.”

The report provides extensive research and objective analysis on the growing housing
industry, its components and the supporting financing structure. It helps clients to
analyze the leading-edge opportunities critical to the success of the Housing
Industry in India. The key issues addressed by the report include:

§ The share of India in Asia’s Real estate industry
§ Factors helping the growth of Housing Sector in India
§ States with high demand for the houses by the year 2010
§ Profile of key players in the sector

About RNCOS:

RNCOS, incorporated in 2002, provides Market Research Reports for your business
needs and aims to put an end to your information pursuit. Our expertise in gathering
global business information for industry research, corporate training, growth
consulting, and business consulting, brings reputed companies and firms to us for
business enhancement solutions. We can be your one-stop-shop for Industry research
information and niche market analysis.

For more information visit: http://www.rncos.com/Report/IM076.htm
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Shushmul Maheshwari
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