Report on trend and progress of housing in India, 2013

The housing shortage in the urban areas has touched 18.78 million units, where 95% of the shortage is in the economically weaker section and low income group, a report by the National Housing Bank (NHB) said. The Report on Trend and Progress of Housing in India - 2013 said the housing trend during the year witnessed supply side constraints including lack of availability of land and finance at reasonable rates. It added that demand drivers include the growing middle class and urbanisation. It noted that housing loans outstanding of banks as on March 2013 was R4.62 lakh crore, while gross non-performing assets in housing loans have remained below 5% in the past three years.