A fresh housing policy is the need of the hour in Gurugram to cater to the demand of the rising population

Gurgaon, one of the fastest-growing cities in India, had been facing a severe shortage to cater to the need of mid-segment people, the service class who could not go for premium societies in the race of rising land and property prices. With a population of over 25 lakh and an annual growth of 1.5 lakh population every year the demand for housing has far exceeded the supply. As a result of this crisis, people in large numbers are forced to look for an option in unauthorized colonies or areas and in substandard colonies. To address this problem, a fresh housing policy for mid-segment families is urgently needed.

Road, rail, highway, expressways – Gurugram has been well encompassed by the transit corridors network, boosting economic activities in full swing and shooting up the land prices. And let’s not forget one of the key reasons for the shortage of housing for mid-segment people in Gurgaon is the high cost of land and rising inflation making construction a costly business and this has made it difficult for developers to build housing projects of low budget for low-income families to afford decent homes without the support of the government. Therefore, in view of the rising population graph of Gurugram, such a new and fresh housing policy is urgently needed.

To achieve this, the government, indeed, could consider providing relaxation or subsidies to real estate promoters who build low-range housing projects. These incentives could include tax breaks, subsidies, and reduced fees for land acquisition and construction. The government could also consider setting up a fund to provide low-interest loans to developers who build affordable housing projects.

Unauthorized colonies, like a contagious disease, are emerging as a big challenge day by day for the government and for the local administration in Gurugram. Small-size plotting in unapproved areas, a fact of the day, is mushrooming like anything else – without the civic infrastructure in place and they are the real mess, ruining the land of the city. The government can attempt to reduce such colonies by increasing the supply of low-cost housing for mid-segment people. The government could encourage developers to build more pocket-friendly flats or independent floors housing by offering them fast-track approvals and other benefits. This could also involve identifying and acquiring land for?independent floor or housing?projects in strategic locations.

The new policy could also focus on creating a more favorable regulatory environment for low-range housing. For example, the government could simplify the approval process for affordable housing projects, reduce bureaucratic hurdles, and ensure that all necessary clearances are obtained in a timely manner. This would help to speed up the construction of affordable housing projects and reduce costs. In addition, the policy could also promote the use of sustainable and eco-friendly materials in construction. This would not only reduce the cost of construction but also promote environmental sustainability. The government could offer incentives to developers who use such materials in their projects.

In conclusion, the shortage of low-range housing in Gurgaon is a serious problem that requires urgent attention. A new housing policy that addresses the key challenges of high land and construction costs and limited supply can go a long way in addressing this problem.