India is undergoing a rapid urbanization now. This requires expansion of urban affordable housing amenities. The government has set to realize this objective by making specific initiatives for the promotion of urban housing under “Housing For All by 2022” programme.
The programme, however, faces many challenges:
1) The aim to build 20 million houses is a challenge where land is scarce and expensive commodity
2) Property records, specially dubious property records and ancestral property records, in India poses significant challenge
3) Financing is challenge due to scarce government resources
4) Slum development and insitu upgradation is a major challenge
What needs to be done:
1) The need to simplify the process of updating property records shall be recognised at the earliest.
2) The list EWG/LIG shall be prepared is being prepared as per SECC data but it needs to be immediately and continuously updated as the factors used are very dynamic.
3) Public-private partnership has been recognised but private housing finance companies need to be promoted and given institutional support. The method of their credit rating system shall be scrutinized.
4) Transfer of Development Rights to incentivise developers to in-situ rehabilitate slums
CONCLUSION:Budget-2017 has given infrastructure status for affordable housing. This will allow additional private players to participate, also, formation of RERA is a right step towards achieving universal housing goal.
