9 challenges affordable housing needs to overcome

March 24, 2018                     By: Aliens Group

Affordable housing has become a popular term in India for more than a decade now with several governments trying to provide for the shortage of houses for the mid and low income people. Are governments really successful in reducing this gap of demand and supply for affordable homes in the country? Has affordable housing been able to meet its goals and deliver to as per expectations?

The recently launched FICCI- CBRE whitepaper on 'Affordable Housing – The Next Big Thing?' highlights that "the segment hasn't really gained the required momentum to address this gap. A major reason has been the lack of private participation in the segment."

Under the Modi government, the past few years have seen maximum activity on Indian real estate scene, such as the launch of Mission Housing For All by 2022, imparting infrastructure status, implementation of RERA, revision of REIT guidelines, PPP policy, and a dedicated fund for affordable housing as a budget provision.

Speaking at the Conference on 'Pradhan Mantri Awas Yojana - Housing for All by 2022', organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Ministry of Housing and Urban Affairs in Delhi, Minister of State (Independent Charge) for Housing and Urban Affairs, Hardeep Singh Puri said that PMAY is not just successful but is roaring and hence brings the opportunity for the private players to be the part of the scheme......................Read More