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Would Housing Be A Dream in The Dream City of India ?: Mumbai

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prateekanand786

This document discusses the high cost of housing in Mumbai, India. It presents statistics showing that Mumbai has some of the most expensive housing prices in the developing world, with rents around 3000 rupees per square foot per month in affluent areas. The document analyzes factors contributing to the shortage of housing supply in Mumbai such as low construction between 1950-1970, demand outpacing supply, development projects being put on hold, and density regulations limiting rental housing. It concludes that amending rent control acts could help address the problem by promoting more housing construction and ultimately lowering prices.

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Would Housing Be A Dream in The Dream City of India ?: Mumbai

Uploaded by

prateekanand786
22 views11 pages
This document discusses the high cost of housing in Mumbai, India. It presents statistics showing that Mumbai has some of the most expensive housing prices in the developing world, with rents around 3000 rupees per square foot per month in affluent areas. The document analyzes factors contributing to the shortage of housing supply in Mumbai such as low construction between 1950-1970, demand outpacing supply, development projects being put on hold, and density regulations limiting rental housing. It concludes that amending rent control acts could help address the problem by promoting more housing construction and ultimately lowering prices.

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mumbai land price

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This document discusses the high cost of housing in Mumbai, India. It presents statistics showing that Mumbai has some of the most expensive housing prices in the developing world, with rents around 3000 rupees per square foot per month in affluent areas. The document analyzes factors contributing to the shortage of housing supply in Mumbai such as low construction between 1950-1970, demand outpacing supply, development projects being put on hold, and density regulations limiting rental housing. It concludes that amending rent control acts could help address the problem by promoting more housing construction and ultimately lowering prices.

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© All Rights Reserved
Download as PPTX, PDF, TXT or read online from Scribd
Download as pptx, pdf, or txt
22 views11 pages

Would Housing Be A Dream in The Dream City of India ?: Mumbai

Uploaded by

prateekanand786
This document discusses the high cost of housing in Mumbai, India. It presents statistics showing that Mumbai has some of the most expensive housing prices in the developing world, with rents around 3000 rupees per square foot per month in affluent areas. The document analyzes factors contributing to the shortage of housing supply in Mumbai such as low construction between 1950-1970, demand outpacing supply, development projects being put on hold, and density regulations limiting rental housing. It concludes that amending rent control acts could help address the problem by promoting more housing construction and ultimately lowering prices.

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You are on page 1/ 11

WOULD HOUSING BE A

DREAM IN THE DREAM CITY


OF INDIA ?
MUMBAI

Presented by:
Prateek Anand
Ritwik Pandey

INTRODUCTION

Mumbai one of the most expensive city of India,


to rent or buy a house.
Renting a house in affluent areas of Mumbai is
around INR 3000 per sq. feet per month.
Mumbai witnessed very high rental charges
especially since 2006.
Mumbai housing is priciest in the developing
world.

City-centre Condo Prices (in US$)


London
Newyork
Moscow
Hongkong
Tokyo
Singapore
Mumbai

To Rent (per month)


To Buy (per sq. m.)

Shanghai
Bangkok
Beijing
New Delhi
Manila
Jakarta
Bangalore
Phonom Penh
0

5000

10000

15000

20000

25000

FACTS AND FIGURES

Supply was less than 20000 units between 19501970.


During 1980s supply crossed over 40000
housing units.
According to BBC survey in 2006, demand of
houses in Mumbai is 84000 while the supply was
only 55000.
Most supply is targeted towards higher income
people.

Facts & figures cont.

Housing unaffordable for 56% population who


have annual income below INR 2 lakhs.
From 2005, many IT, financial and commercial
projects expanded their operation in Mumbai,
resulted in increased CBD rentals.
Drop of rent by Quarters in 2008, discouraged
the developers to expand there construction
activities.

DEMAND AND SUPPLY

Surge in demand due to lack of supply of housing


units.
Appreciation of housing units due to surge in
demand.
Housing in Mumbai is facing shortage in which
the no. of housing units demanded exceeds the
no. of housing unit supplied.

ARTIFICIAL SHORTAGE

In 1990s people invested in the property to reap


huge profit by selling them in future.
A lot of upcoming housing projects were put on
hold during recession.
At least 15 million sq. feet of commercial real
estate is blocked in Mumbai and thane.
Density Regulation act has put limitation on the
rental housing supply.

DETERMINANTS OF SUPPLY
A.

PRICING FACTORS :
Change in housing price.
Change in housing Rentals.

B.

NON-PRICING FACTORS :

Cost of production.
Price of inputs and technological advancements.
Future expectations.
Government policy.

CONCLUSION

Amending the Rent Control Act. will help


solving the problem.
Reduction in the supply of housing will spike the
price of housing units, which will eventually
promote supply of more houses and this will lead
to drop in the housing prices.

THANK YOU

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