Real Estate

Government plans to give a big push to affordable rental housing

Our Bureau New Delhi | Updated on August 26, 2020

Workers coming to big cities for employment opportunities need accommodation at affordable prices

The government is working on bringing new norms soon to give a push to affordable rental housing in the country, said a top official.

“We are soon bringing in a new law on rental housing and this will lead to a structured approach in this sector, both in urban and rural areas,” said DS Mishra, Secretary, Ministry of Housing and Urban Affairs.

Focus on road ahead

Workers coming to the big cities for employment need a place to stay, at affordable prices.

Only then can they contribute their best to their companies, added Mishra, while addressing an online summit.

Assocham organised an online summit on ‘Housing for All- Affordable and Rental Housing: The Way Forward’ to discuss the road ahead in achieving the target of providing affordable housing to all.

“There is a large segment of population who need a house but perhaps not in the ownership model. A model that allows a worker to live in a reasonable accommodation close to his workplace whether through private or government sector housing such as JNNURM is the need of the hour,” said Amrit Abhijat, Joint Secretary, Ministry of Housing And Urban Affairs.

Problems due to pandemic

During the session, the opportunities, challenges and the way forward for affordable housing and rental housing sector considering the serious impediments caused by the Covid-19 pandemic were discussed.

“While ownership of houses for all may not be possible, this provides the rationale for policy focus on promotion of rental housing in urban areas.

“A fair combination of both affordable ownership and affordable rental housing will act as a catalytic force to achieve the overall goal of Housing for All,” said Niranjan Hiranandani, President, Assocham.

Published on August 26, 2020

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