Making 'Affordable' Possible

BROTIN BANERJEE elaborates on the role of the private sector to enable the government’s vision of ‘Housing for All’.

- Brotin Banerjee

India is on the cusp of large-scale urbanisation over the next few decades, with more than 1 crore population being added to its urban areas. It is expected that by 2050, 60 percent of the population will be living in cities, meaning that the demand for houses will shoot up in these areas. According to data compiled by Cushman and Wakefield, 11 major Tier-II and Tier-III cities are expected to witness a rise in housing demand, driving cumulative incremental residential demand to about 900,000 units between 2016 and 2020.

Various reports and statistics suggest that affordable housing is an issue in India. However, with the country experiencing a robust phase of urbanisation, the government is making efforts to ensure housing is made available for all. Through its various strategic policies and robust implementation methods, it is committed to fulfilling its vision of providing ‘Housing for All’ by 2022. But for this to come to fruition, a number of challenges need urgent attention. A few of these are involvement of the private sector, availability of land and easy credit.

Encouraging private participation