House prices in India: How high, and for how long?
By: Gupta, S., Agnihotri, N. and George, A
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Material type: 
BookPublisher: Economic & Political Weekly Description: 37(14), 14 Sep, 2024: p.50-59.
In:
Economic & Political WeeklySummary: A significant proportion of India’s population lacks access to decent housing, despite successive governments implementing housing affordability schemes. Why housing is expensive in India and what explains the tepid increase in house price growth over the last seven–eight years needs to be understood to address the challenge. Housing is expensive, with a price-to-income ratio of 11, more than twice the affordability benchmark of 5. High house prices are due to structural issues afflicting the real estate sector, such as inefficiencies in land use planning and implementation, semi-transparent nature of the real estate market, and a pervasive shadow economy. These issues and a less-than-competitive industry structure reinforce high prices. To make housing affordable, the focus should be on releasing developable land supply transparently through rigorous land use and implementation.- Reproduced
https://www.epw.in/journal/2024/37/special-articles/house-prices-india.html
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 37(14), 14 Sep, 2024: p.50-59 | Available | AR133283 |
A significant proportion of India’s population lacks access to decent housing, despite successive governments implementing housing affordability schemes. Why housing is expensive in India and what explains the tepid increase in house price growth over the last seven–eight years needs to be understood to address the challenge. Housing is expensive, with a price-to-income ratio of 11, more than twice the affordability benchmark of 5. High house prices are due to structural issues afflicting the real estate sector, such as inefficiencies in land use planning and implementation, semi-transparent nature of the real estate market, and a pervasive shadow economy. These issues and a less-than-competitive industry structure reinforce high prices. To make housing affordable, the focus should be on releasing developable land supply transparently through rigorous land use and implementation.- Reproduced
https://www.epw.in/journal/2024/37/special-articles/house-prices-india.html
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