The following is the report by JLL, India
Housing For All by 2022: Far-Fetched or Feasible?
The current Government’s ‘Housing for all by 2022′ promise seems a bit unrealistic at the moment, as the modalities and concrete steps needed to be undertaken to achieve this goal have not been spelled out. If this very ambitious goal is indeed to be met, there needs to be a clear, well-thought out policy document outlining the exact deliverables and accompanied by initiatives to streamline the development process. Considering that the government has seven years in all to achieve this target, it fundamentally involves construction of 30 billion square feet of housing stock, or approximately 4 billion square feet per year if we assume an average of 500 square feet per house. The problem is not merely a function of making land available and increasing the FSI to incentivise developers undertaking low-cost housing projects. There is a need for systemic change in how the government perceives the entire issue of housing for the urban poor. Regulatory changes, faster approvals, removal of red tape and
resolution of land litigation issues need to be adequately addressed. A three-pronged approach involving the state, regulatory bodies and the executing agency/private player is of the essence. The respective state governments will also play a major role in synergising their own housing policy with that of the Centre and revitalising the role of the development authority as more of a facilitator with contracts being awarded to private players/semi-government agencies such as HUDCO and NBCC.
It is also essential to have the right development partners who will not put their
hand up in the middle of project execution citing financial viability. Suitable fiscal incentives to the private industry as well as financial support through cheaper industry loans will also be required. While the only positive has been the intent of the current dispensation to move ahead with definite thought, other aspects such as granting of infrastructure status to such projects should be explored. The plug and play approach for infrastructure as enumerated in the last Budget makes for an ideal blueprint to begin with for the Centre and the states so that the entire focus is towards timely delivery of housing units, which after all is the result everyone hopes and expects in the next seven years.
Anuj Puri, Chairman & Country Head, JLL India
Danube Properties’ Dh525 million Opalz sold out on the first day of launch
October 4, 2022: Danube Properties, the UAE-based affordable housing developer, said, its latest project Opalz, a twin-tower residential project with...
Pacific Mall D21’s ‘Dussehra Celebrations’ drops the curtain with high attendance
New Delhi: Pacific Mall D21 organised a two-day Dussehra celebration and Garba Night, attracting massive turnouts. The special arrangement of...
Tata Value Homes sells over 100 residential units at New Haven, Bahadurgarh at launch
Delhi/Haryana October 4, 2022: With an aim to address the growing demand for quality homes in Haryana – Bahadurgarh, Tata...
Welspun Corp opens steel plant in Anjar
October 3, 2022, Anjar, Gujarat: Welspun Metallics Limited, a subsidiary of Welspun Corp Limited (WCL), the flagship company of the Welspun...
Over 1500 cyclists join Hiranandani Thane Cyclothon 2022 to support ‘Rhyme for Earth’ initiative
October 2, Thane: The Hiranandani Group hosted the first Hiranandani Thane Cyclothon today from its thriving Thane township, Hiranandani Estate. Over...
Ashiana Housing adds over 900 senior living units with Villas and Apartments with the launch of Ashiana Advik in Bhiwadi
New Delhi, October 3, 2022: New Delhi-based real estate developer Ashiana Housing has announced the launch of Ashiana Advik in Sector 39, Bhiwadi....
Developers Speak3 weeks ago
Festive season to spurt bookings: Experts
Developers Speak3 weeks ago
Chandni Chowk at the Centrepiece in tune with the wave of Commercialisation
Report4 weeks ago
Private equity inflow in PropTech firms up 5% to $270 mn in H1 2022: Housing.com
News4 weeks ago
BHIVE receives Rs 240 cr commitments for its ₹ 400 cr Real Estate Fund
New Launches4 weeks ago
Makemyhouse.com expands in India, introduces partner program in 60 cities
Developers Speak4 weeks ago
With Flight Testing in MOPA Airport, spotlight turns to North Goa
Report3 weeks ago
Shop-cum-Office segment grows 30-40% in the past 12 months: 360 Realtors’ study
Report3 weeks ago
Coworking share in office real estate up at 20% in H1 2022 from 6% in 2021: Report