PM Modi formally announced the ambitious Smart Cities program and the ‘Housing for all by 2022’. Here’s a KPMG report which lists what this entails on the ground
• By 2022, India needs to develop about 11 crore housing units
• Investments of more than USD2 trillion or about $ 250 to 260 billion annual investment until 2022
• Investments will need to grow at a CAGR of 12 to 13 per cent (unadjusted for inflation) in 2022
• 70 per cent of the housing needs till 2022 should be concentrated in nine states
• Urban housing is to account for about 85 to 90 percent of the total investments; the focus should be on affordable urban houses, which is 70 per cent of the total urban housing requirement
• About 1.7 to 2.0 lakh hectare of land is expected to be required to fulfil urban housing need by 2022.