Housing shortage in urban areas has fallen; find out by how much

Nov 16,2017

Housing shortage in urban areas has fallen; find out by how much

The estimate of shortage of housing in urban areas has been revised lower to around 10 million units from 18.76 million projected in 2011, housing and urban affairs minister Hardeep Singh Puri said on Wednesday.

 FE Bureau
New Delhi
November 16, 2017

The estimate of shortage of housing in urban areas has been revised lower to around 10 million units from 18.76 million projected in 2011, housing and urban affairs minister Hardeep Singh Puri said on Wednesday. “A technical study conducted in 2011 placed the housing shortage at 18.76 million in urban areas, of which 96% is in the economically weaker sections (EWS) segment and in lower income groups (LIG) housing. “Subsequent assessments led to a revision of this figure. In the final analysis, the shortage is likely to be around or in excess of 10 million units. This is aimed to be addressed through our flagship programme PMAY (Pradhan Mantri Awas Yojajana) Urban,” Puri said at RICS real estate conference here.

He said the government has released various PPP models to encourage housing through private partnership. The thrust of the mission has been to make available housing for the EWS, LIG and also the MIG (middle income group), by harnessing government land, he said. “Among the distinctive features of this scheme are that the government will make available the land, in addition provide a subsidy to each allottee and assist in obtaining easy financing from banks for the remaining sum required,” he said.

The estimate of shortage of housing in urban areas has been revised lower to around 10 million units from 18.76 million projected in 2011, housing and urban affairs minister Hardeep Singh Puri said on Wednesday. “A technical study conducted in 2011 placed the housing shortage at 18.76 million in urban areas, of which 96% is in the economically weaker sections (EWS) segment and in lower income groups (LIG) housing. “Subsequent assessments led to a revision of this figure. In the final analysis, the shortage is likely to be around or in excess of 10 million units. This is aimed to be addressed through our flagship programme PMAY (Pradhan Mantri Awas Yojajana) Urban,” Puri said at RICS real estate conference here.

He said the government has released various PPP models to encourage housing through private partnership. The thrust of the mission has been to make available housing for the EWS, LIG and also the MIG (middle income group), by harnessing government land, he said. “Among the distinctive features of this scheme are that the government will make available the land, in addition provide a subsidy to each allottee and assist in obtaining easy financing from banks for the remaining sum required,” he said.