'Housing for all: India needs $2 trillion'

 Investments to the tune of more than $2 trillion would be required by 2022 to create a stock of over 110 million housing units and achieve the target of "housing for all", an industry official said here on Wednesday.

“There is already a huge shortage of housing and if we have to achieve Prime Minister Narendra Modi's vision of housing for all by 2022, we will need an investment of at least $2 trillion to create more than 110 million units,” National Real Estate Development Council (NAREDCO) President Sunil Mantri said.

Investment in the sector needs to grow by around 20 per cent to achieve the target, he said. India has an urban housing shortage of about 18.7 million units, with 95 per cent of this shortfall in the low- cost housing segment, and 43.7 million in the rural belt.

“Apart from creating houses, there is also a need to develop supporting infrastructure and commercial real estate to achieve sustainable growth. For this, we will need additional investments of $1.5 trillion,” he said.

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