Cabinet nod to ARHC A long-term solution: Hiranandani

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Niranjan Hiranandani, President (National), Naredco, has said that in the light of the challenges that urban poor and migrant labour faced during the lockdown, the ARHC scheme cleared by the Union Cabinet on Wednesday “will provide a long-term solution.”

The following is the text of Hiranandani’s statement: 

“A significant move, this will create an urban ecosystem providing affordable rental housing at to urban migrants/poor.
The first advantage from this will be proper habitat and living facilities for migrant labour, much needed to restart the urban economy, be it manufacturing or service providers.

“The second advantage will be in form of optimum usage of existing government-funded vacant housing stock. Third, investment under

ARHCs has potential to create new job opportunities.

“Fourth, the scheme creates an environment conducive for corporates to develop AHRCs on own vacant land, which will create new investment opportunities as also promote entrepreneurship in rental housing sector.

“The special incentives like use permission, 50 pc additional FAR/FSI, concessional loan at priority sector lending rate, tax reliefs at par with affordable housing etc. which will be offered to private/ public entities to develop ARHCs on their own available vacant land for 25 years, make it an attractive proposition.

“The biggest plus point is that this will make housing available at affordable rent, at locations close to place of work. This will reduce unnecessary travel, congestion and help control pollution.”