Urban Expansion Unveiled
The report reveals a major shift in the landscape of India's leading cities. Over the past three decades, the physical space occupied by urban development
in India's top-8 cities has doubled. This indicates a rapid increase in construction and infrastructure development. The report provides detailed data on the extent of this growth, showing the tangible impact on the geographical footprint of these metropolitan areas.
Housing Market Boom
Alongside the expansion of the urban footprint, there's been an increase in housing sales within India. Projections suggest that annual housing sales could potentially reach between 8-10 lakh units by 2047. This contrasts with the current figures of 3-4 lakh units. This anticipated growth reflects the country's increasing population, economic progress, and a growing need for housing across different income segments.
Home Interiors' Rise
The housing market's expansion has a direct effect on the home interiors market. The report suggests that India's home interiors market is poised for substantial growth, potentially doubling to $24.5 billion by the year 2030. This points to a growing demand for home furnishings, décor, and renovation services, fuelled by rising incomes, changing lifestyles, and an increased focus on home aesthetics among urban residents.
