INDIA, MUMBAI, 1st JUNE, 2020 (GPN): RICS (Royal Institution of Chartered Surveyors) in association with international property consultant Knight Frank released a report on ‘Brick By Brick – Developmen of Renting Housing in India’. Kindly find the attached report for your perusal. We would be happy to connect you with our spokesperson for any further details required.
This COVID-19 pandemic has brought in spotlight a crucial social issue: the need for better housing options for migrant workers. The government has declared that it would look at promoting the creation of Rental Housing for migrant workers so that such difficulties can be avoided in the future. The Finance Minister also spoke of looking at the Public Private Partnership (PPP) model to achieve this. Organised mass Rental Housing projects replacing informal settlements in cities of future could emerge as one of the biggest learning from the current crisis
Shishir Baijal, Chairman & Managing Director, Knight Frank India
In this report ‘Brick by Brick’, created jointly by Knight Frank India and RICS, it presents both short – term and long – term solutions that would help achieve the goal of viable housing and concrete, executable solutions for Rental Housing specially in the urban centres of India.
Nimish Gupta FRICS, MD – South Asia, RICS
This report details
Ø Need based classification of rental housing demand
Ø Size of the Rental Housing market
Ø International examples of this program
Ø Strategies for developing this market in urban India
Ø Also includes a hypothetical case study that highlights how ‘Rent to Own’ schemes work out to be cheaper
Strategies that can adapted for developing rental housing in urban India.
- Channelising Government Owned Land for Rental Housing Development
- Planning controls to improve viability on rental housing projects
- Some portion of land can also be marked for social housing development
- Rental Management companies to pool private houses
- Organised Rental Housing developments could also be picked up by REITs.
- Fiscal subsidies to promote Rental Housing development
Some of the largest urban centres of the country, with the highest urban housing shortfall, also have the highest number of vacant houses
VACANT HOMES
| City | No. of Vacant Houses |
| Mumbai | 5,00,000 |
| Delhi | 3,00,000 |
| Bengaluru | 3,00,000 |
| Pune | 2,00,000 |
| Ahmedabad | 2,00,000 |
| Jaipur | 1,20,000 |
| Hyderabad | 1,00,000 |
| Kolkata | 80,000 |
| Bhopal | 75,000 |
| Gurugram | 75,000 |
| Lucknow | 65,000 |
| Ghaziabad | 55,000 |
Source: Knight Frank Research. ENDS
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