Niti Aayog: Bring down land prices for Affordable Housing

High cost of land is the constraint in rapid expansion of affordable housing. Niti Aayog has put some steps forward to bring down the land prices to give a push to the Central Housing Scheme "Pradhan mantri Awas Yojana".

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Niti Aayog: Bring down land prices for Affordable Housing

High cost of land is the constraint in rapid expansion of affordable housing. Niti Aayog has put some steps forward to bring down the land prices to give a push to the Central Housing Scheme “Pradhan mantri Awas Yojana“.

Due to the Urban Land Ceilings and Regulations Act, 1976, large chunks of vacant land have disappeared from urban land markets. Most States have repealed this act, many large pieces of land remain tied up in litigation.

It should be taken on a priority for releasing these land for commercial use. Many sick public sector enterprises (PSEs) own large pieces of unused land in prime urban areas, closer of these units will help to bring substantial land into the market.

Central and State Governments own substantial urban land that remains unused or subject to encroachment, such land could be monetized to finance infrastructure and other critical expenditures while also making the land available for housing and other uses.

As the horizontal land space is less, it can be met by extending vertically through the construction of taller buildings. Removing of  many of the constraints will admittedly take more than three years and the action is further hampered by the fact that the urban spaces and land issues falls under the jurisdiction of the state and will require the action by each individual state.

Source Link- http://indiatoday.intoday.in/story/bring-down-land-prices-for-affordable-housing-niti-aayog/1/1033473.html

 

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