Sherwoods Independent Property Consultants is to open an office in New Delhi this summer as investor appetite grows amid a shortfall of four million residential units in the Indian capital.

The Dubai-based real estate adviser, which has three offices in UAE as well as a strong presence in Europe, predicted on Tuesday New Delhi will have a buoyant housing market with rising demand among the burgeoning middle class as India’s economy booms.

Sherwoods estimated that there is a supply shortage of around four million homes in the capital.