Affordable Housing - How distant is the dream?

Buying a new home sounds an exciting thing for most people. However, there is a huge gap among income groups that determine who gets to have or not have a desired home for their families. In spite of flexibility and availability of projects there are individuals who lose out on the affordable #housing game. Vision 2022 by Narendra Modi stated “Housing for all”.

Real Estate or housing as an industry contributes 10% to India’s GDP. Economic growth and ancillary industries rise on the basis of this. Central Government of India has recognized apartments that cost, not exceeding Rs 65 lakh in the metros and Rs 50 lakh in non-metros as “affordable housing”. But all of this fail to answer as to where is affordable housing and a thought for the poor and 'have nots' to have #familyhomes for themselves.

Government efforts in bringing forward #lowincome groups by revising “family income levels” have not really helped providing a strong platform for the “urban poor”. Women empowerment (financially) have been raised by our government. Rural financial schemes, loans and various other alternate methods have been pursued but in vain. ?

Some of the major impediments to make ‘affordable housing’ a reality for the vulnerable section of our society are age-old construction technology, banks’ reluctance, poor resources, legal hassles, land and capital blockages.

If land availability is taken good care of, #affordablehousing dream will be made possible. Builders and developers will never take onus on land infrastructure status since this is not financially viable. Land banks must be opened up by the governments and clarity should be brought forward so that developers can build and private players can create a space for affordable projects.