India suffers from severe housing shortages, especially for the economically weaker sections of the society. And the house prices have been booming for nearly a decade. The markets are opaque, price indices have not been developed, market suffers from absence of regulator and there is no...

India suffers from a chronic shortage of housing, estimated at 18.8 million units in 2012, mainly in urban areas as per the Government of India. The shortage was mainly on account of congestion (15 million) followed by obsolescence (2 million) and homelessness (1 million). This paper documents...