The Housing Paradox
The Housing Paradox The Affordable Housing Crisis Amid High Vacancies The 2011 census, even though now a decade behind, brought an interesting housing paradox to light. The findings were such: Out of 90 million, 11.09 million housing units were listed vacant, or 12 percent of the total urban residential stock. To put it into perspective, this is sufficient to house as many as 50 million people i.e. 13% of the urban population. On the other hand, the nation is suffering a housing shortage of nearly 19 million housing units. Yes, we have the same questions, how and why? The Problem These vacancies have been seen majorly in the western parts of India, with the vacancy rates being as high as 19% in Gujarat and 16% in Maharashtra. Cities in the outskirts of metropolitan areas are prone to higher vacancy rates than central regions. Just looking at the figures, it can be speculated that the housing crisis could be averted to a great extent, solely by efficient management of the exi...
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