India's building boom

With the current housing crisis and building boom in Auckland and Christchurch, it was interesting to come across this article from Nielsen about India's housing situation. A rising middle class means that consumers are taking advantage of easy finance and tax incentives and are choosing to build new homes. The numbers are huge, with a need for 12 million housing units to be constructed in urban India. The market spend of housing projects for low and middle income groups alone will touch $40 billion in seven years. India may be a market that could hold a lot of appeal for New Zealand suppliers of building products.