Growing importance of Green Homes for a sustainable tomorrow

Growth of Housing Sector in India

India has witnessed significant growth in the building sector during the past 5-6 years. Yet, many reports indicate that the growth during the next 20 years would be many-fold higher. For instance, it is anticipated that the built-up space in the building sector would rise from the current 20 billion sq.ft to 100 billion sq.ft in the next 20 years. (Source – Climate Works Foundation 2010). This means that 80% of the building stock in India is yet to be built.

It is the housing sector that needs to be watched where it is anticipated that the growth would be higher than the commercial sectors. Even during the recent years of a rather lower growth in the construction sector, housing sector in India has grown at 20%. Notably, the housing loan disbursement rose from 2.63 lakh crores in 2008-09 to 3.64 lakh crores in 2010-11. (Source: RBI, August 2011, New Delhi).