By C&W Report
With flourishing IT - ITeS businesses and
manufacturing activities, Pune has been witnessing an unprecedented growth in
population, primarily due to a large increase in migrant population.
Due to this, the demand for residential housing
units has been on a rise and by 2018 end; about 1.91 lakh units will be
required in the city.
Pune is likely to witness maximum requirement
in the Lower Income Group (LIG) & Middle Income Group (MIG), together
accounting for around 82 % of the demand and equally distributed amongst the
two categories.
The supply projected until 2018 end is only to
the tune of 78,000 units, translating into a significant housing shortfall in
the city.
Although majority of the supply (72 %) is
planned in the MIG, the demand for these units will remain unfulfilled.
However, there is likely to be a significant
demand-supply gap (60 % shortfall) for the LIG, which needs to be addressed by
developing relevant housing units.
With large global corporations deputing their
top executives in the city, the demand in the High Income Group (HIG) also
seems to be on a rise and shortfall in this category also has to be addressed.
Moreover, there is also a huge requirement by
NRIs and buyers/investors from Mumbai looking to purchase an apartment in Pune
as their second / retirement home.
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