Krishnamurthy, A D and Mahesh, G (2024) Stimulation of construction industry output through enhanced efficiency of Indian residential real estate sector. Built Environment Project and Asset Management, 14(4), pp. 562-589. ISSN 2044-124X
Abstract
Purpose: In the context of an absence of studies examining the interrelationship between Indian construction industry and residential real estate sector, the study aims to develop and test a conceptual framework to stimulate construction industry through optimisation of housing market in India. The developed conceptual framework lays down a blueprint to assess the interaction between construction industry and housing market in other countries. Design/methodology/approach: Means of stimulation of construction industry by residential real estate sector were identified. Housing market was examined to identify factors constituting consumer-centric delivery and consumer-empowered demand. Supply side of housing market was probed to identify underlying factors stifling housing delivery. The identified factors were put together to form the conceptual framework. A questionnaire was developed and administered to the delivery-side stakeholders of housing market. Findings: The study demonstrates significant correlations between real estate investment-led construction industry output stimulation and consumer-centric residential real estate delivery. The deterrents to consumer-centric housing delivery have been ascertained to be having an impact on time, cost and scope of housing projects. Significant correlations have been ascertained between the deterrents. On the demand-side, skills, awareness and engagement of consumers are strongly correlated with each other. Affordability of housing is rightfully correlated with all the three means of stimulation of construction industry output. Originality/value: Specific to the Indian context, the study presents and validates a novel conceptual framework aimed at stimulation of construction industry output through interventions in housing market.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | conceptual framework; construction industry output; India; residential real estate asset |
| Index terms: | efficiency, housing delivery, real estate investment, housing project, real estate, methodology, questionnaire, conceptual framework, India, interaction, construction industry, affordability, housing |
| Subjects: | economic analysis, real estate economics, data collection methods, construction type, industry analysis, behavioral psychology, housing and residential development, Geography, theoretical framing, research methods, performance management |
| Topics: | Quality Management, Urban Studies, Research Practice, Geographical Context, Business Strategy, Procurement, Construction Technology |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here