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Our Bureau

Hyderabad , Nov. 18

Even as the Indian industry strongly has opposed quotas in private sector, the National Conference on Housing and Human Settlements has recommended that the poor and lower income groups should have reservations in private sector housing projects.

Addressing a press conference here on Saturday, Ms Kumari Selja, Union Minister for Housing and Urban Poverty Alleviation, has said the two-day conclave recommended that it wanted the States to ensure 10-15 per cent of land in all the new public-private housing projects. This would amount to a reservation of up to 25 per cent of dwelling units for weaker sections.

Ministers of housing, municipal corporations and other stakeholders attended the meet.

The 40-point wish list felt that landowner should have a stake in any kind of acquisitions. Realising the need for huge requirement of funds, the meet said efforts should be made to encourage foreign direct investment and investments from non-resident Indians.

While stressing the need for setting up land banks exclusively for EWS (economically weaker sections) and LIG (lower income groups), the meet recommended for broadening debt market. This would facilitate affordable finance for housing and infrastructure, while strengthening secondary mortgage market as a source of funding.

Vision

The meet called for a vision to ensure slum-free cities. It asked the States to fine-tune their housing policies in tune with the national policy. It wanted the stakeholders to develop legal, regulatory, fiscal and financing systems to address the new challenges.

The conference felt the need for creation of a Real Estate Regulatory Authority to balance the interests of developers and consumers. It wanted the Central and State Governments to hand over the entire surplus lands to local authorities to take up housing for the poor.

More Stories on : Real Estate & Construction | Social Welfare

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