‘Housing for All by 2022’ still has around four years to achieve the target, but inadequate funding and other issues continue to dog the scheme.

“Due to the problems in the banking system, there is a liquidity issue and availability of debt is also reduced. It is because of this that there are issues related to lending to non-banking financial companies (NBFCs) and housing finance companies (HFCs),” said Ashish Karamchandani, Senior Advisor, FSG, Affordable Housing.

According to the data by Anarock, less than 20 per cent of the houses have been built so far out of the two crore houses planned under the scheme.

Another challenge is poor supply from the big developers and high pricing.

“If a person earns ₹25,000 a month his or her annual salary would be around ₹3 lakh and generally a person can invest 4-5 times of the annual salary which is around ₹12 lakh. However, there is very little supply in that bracket,” said Karamchandani.

The supply is generally in the range of ₹20-30 lakh. However, the location of the houses is not preferred because they are far away from the city and commutation becomes a task, Karamchandani added.

“Lack of technology with developers slows down project execution. Due to the large scale of projects, new technology adaptation is one of the key areas to work upon,” said Santhosh Kumar, Vice- Chairman, Anarock.

Adoption of new technologies for faster construction and encouraging private partnerships will help the government achieve its target within the given time frame, Kumar added.

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