Housing in Bangalore: Difference between revisions

{{EngvarB|date=February 2016}}  

{{Use dmy dates|date=February 2016}}

'''Housing in India''' varies from palaces of erstwhile [[maharaja]]s to modern apartment buildings in big cities to tiny huts in far-flung villages. There has been tremendous growth in India's housing sector as incomes have risen. The Human Rights Measurement Initiative<ref>{{Cite web|title=Human Rights Measurement Initiative – The first global initiative to track the human rights performance of countries|url=https://humanrightsmeasurement.org/|access-date=2022-02-24|website=humanrightsmeasurement.org}}</ref> finds that India is doing 60.9% of what should be possible at its level of income for the [[right to housing]].<ref>{{Cite web|title=India - HRMI Rights Tracker|url=https://rightstracker.org/|access-date=2022-02-24|website=rightstracker.org|language=en}}</ref>

{{Main|Indian property bubble}}

The Indian property bubble refers to the concern expressed by some Indian economists that [[Real estate economics|housing market]] in some major Indian cities may be in a [[property bubble|bubble]]. The real estate sector is thought to be collapsing due to increasing costs of financing. Real estate projects in India take a long time to complete due to a complicated and corrupt regulatory mechanism. Several of the India's publicly traded real estate firms are in debt. The inventory of unsold real estate assets is growing and it is expected the market will undergo price corrections.<ref name=Slump>{{cite news|title=A Housing Slump in India|url=https://www.nytimes.com/2013/09/11/business/global/a-housing-slump-in-india.html?pagewanted=all|accessdate=5 July 2015|work=[[The New York Times]]|date=10 September 2013}}</ref> According to Mumbai-based market research agency, Liases Foras, 30% of the transaction in the real estate sector is done with black money.<ref name=Looms>{{cite news|title=Modi's 'Black Money' Crusade Looms Over Property Bubble|url=https://www.bloomberg.com/news/articles/2015-03-18/modi-s-money-laundering-crusade-looms-over-india-property-bubble|accessdate=7 July 2015|work=[[Bloomberg News]]|date=19 March 2015}}</ref> In September 2019, India announced that it will provide $1.41 billion of funds to boost affordable and middle income housing,  as part of measures designed to aid India’s slowing economy.<ref>{{Cite news|url=https://www.reuters.com/article/us-india-economy-housing-idUSKBN1VZ08K|title=India to provide $1.4 billion to boost affordable, mid-income housing|date=2019-09-14|work=Reuters|access-date=2019-09-17|language=en}}</ref>