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HOUSING DEMAND IN INDIA.docx

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ECONOMICS TERM PROJECT PREPARED BY DIGVIJAY SINGH MANJOT KAUR TANYA GOGIA SIDDHARTH GOEL (Group-5) TOPIC- HOUSING DEMAND IN INDIA Introduction & Motivation Housing is a basic need of man. In importance, it is third after food and clothing. The importance of housing was universally accepted from the dawn of history. Even the Neolithic man who lived between 10,000 and 2000 B.C. buil
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  ECONOMICS TERM PROJECT PREPARED BY DIGVIJAY SINGH MANJOT KAUR TANYA GOGIA SIDDHARTH GOEL (Group-5)    TOPIC- HOUSING DEMAND IN INDIA    Introduction & Motivation Housing is a basic need of man. In importance, it is third after food and clothing. The importance of housing was universally accepted from the dawn of history. Even the Neolithic man who lived between 10,000 and 2000 B.C.  built durable habitation like pit dwellings, lake dwellings and beehive huts. However, its functions increased manifold over the years. Primitive men sought some kind of protection against wild animals and natural calamities. Housing  protection is also sought against enemies as well. When the institutions of  private property came to be recognized housing received a big boom in the investment sector. With the development of knowledge and the advancement of civilization,  people became particular about sanitation, environment, privacy, location of house, etc. He becomes more conscious of better facilities, which make his life easy and very comfortable. With the invention of electricity and other facilities the development of housing became more important. Then man began to bring electricity, toilet, bath, washbasin etc. within the walls of his house. Houses  become useful in various ways. A house is the place where one can take rest, sleep and cook food. A house can also be used partly as a shop, work place, or a place for business for any type of activities. In developed countries the top most executives bring their work home in their own briefcases and get it done in the home at night. A significant percentage of recreational activities is being  brought into the house with the advent of television, radio, computer, recorded music etc. As per the available information man spends a good part of his  lifetime in his house. This clearly indicates the fact that a house is a part and  parcel of a man’s life. Urban housing problem that perhaps causes the most concern to a majority of urban dwellers is the problem of finding an appropriate place to live. The  popular feeling is that the prices of housing of all kinds have been increasing exorbitantly could indicate that housing investment has not kept pace with the increasing demand for housing. The national income estimate clearly indicates the fact that housing investment as a proportion of gross capital formation in India has declined from about 30 per cent in 1950 to only just half or even less than that in 1990. To a large extent, this is as should be expected in an economy undergoing dramatic and considerable diversification with massive investment in an industry. Census data indicates that the quality of per capita shelter has declined during the last 40 years as measured by indices of crowding. The pace of changes in the quality of housing which was evident during 1950s and 1960s seems to have  been restricted in 1970s. A new approach to the provision of shelter is therefore, sorely needed, before conditions decline even further. Paradoxically, it must be bolder in providing an expanded house stock as well as more cautious in what we expect to provide taking account of the existing level of income distribution in the country. Given the low level of income and low level of growth it would be unrealistic to expect people to devote much portion of their income in housing sector. Hence, this approach needs to be changed from the  prescription of unrealistic approach to the provision of facilities and condition that are suitable for people to obtain maximum quality of shelter as per their needs as well as their capabilities. The high rate of growth of urban population and its accumulative nature with a  population over one lakh has led to increasing problem of housing, reducing

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Jul 23, 2017
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