With the rapid growth of the population and a rise in income levels, the housing sector has witnessed a boom in recent times. Property prices in cities such as Mumbai are among the highest in the world. Apart from huge investments made by domestic property developers, a significant amount of foreign investments have been made in the housing sector as well. The housing sector is expected to be one of the biggest contributors to the country’s gross domestic product (GDP). Affordable housing, medium housing and luxury housing comprise the three main categories falling under the housing sector. The rapid urbanisation of the country is also responsible for the growth of the housing sector. The Indian family structure has also evolved from a joint family structure to a nuclear family structure over time, thereby increasing the need for more housing. The growth of the sector has also led to a massive increase in housing finance requirements in India. Hide this