India's Housing Boom Fuels Construction and Real Estate Gains
• Construction sector grew 13.3% in Jul-Sep quarter, its best performance in 5 quarters, helping drive India's 7.6% GDP growth
• Home sales in top Indian cities climbed 36% in Jul-Sep 2022 amid rising incomes, housing shortage, government subsidies
• Urban housing shortage was 19 million units in 2021, expected to double by 2030 per government estimates
• Analysts predict housing boom could continue 2-4 more years due to early stage of growth cycle
• Real estate stocks surged 67% this year on higher housing demand - Prestige Estates up 120%, DLF up 67%, Godrej Properties up 52%