Supply of premium residential housing to be at 367,000 units by 2011

Knight Frank’s research findings reveal that out of the total housing unit supply which is 367,000 units across seven major cities, the National Capital Region (NCR) will be the largest contributor with 92,202 housing units equating to 160.16 million sq ft of fresh supply of residential space followed by Mumbai with 72,906 units equating to approximately 80.61 million sq ft by the end of 2011. With the resurgence witnessed in the global economy, particularly the real estate sector, Knight Frank estimates that 75 per cent of the present and future residential supply will focus, to a great extent on the 2 - and 3-BHK housing units being built. “As the real estate sector’s growth continues to improve, the country would witness a supply of 138,000 residential units in 2010, which would be 57 per cent more than the supply seen in 2009,” says Gulam Zia, National Director - Research & Advisory Services, Knight Frank India.