Incentives For Developers & Clarity On Affordability Needed

Under the ‘Housing for all’ scheme announced by Prime Minister, the target is to build two crore homes in all the urban areas by 2022. The cost of land in the metros is high due to which affordable housing projects get relegated to areas from where commutation becomes a challenge.

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Incentives For Developers & Clarity On Affordability Needed

Lack of incentives for developers in the affordable housing sector and much clarity on the concept of affordability needed were among the major concerns raised by industry experts attending the national summit on ‘Housing For All’ organised by Assocham.

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It’s very difficult to achieve the target by 2022, it’s already 2018 and a small percentage has been covered so far. The major reason for this can be that players entering the segments are not being treated differently. The price at which I get land is equal to those starting a normal housing project, so why would one enter this segment, asked Co-Founder, Signature Global Group.

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Under the ‘Housing for all’ scheme announced by Prime Minister, the target is to build two crore homes in all the urban areas by 2022. The cost of land in the metros is high due to which affordable housing projects get relegated to areas from where commutation becomes a challenge,  said Director, The Real Estate Management Institute (REMI).

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Meanwhile, Executive Director and CEO, Reliance Home Finance Ltd said, the affordable housing segment is a great move and the benefits of this would be seen over a period of time. Talking about meeting the deadline of 2022, he said, let’s not put a percentage on it. The important thing is that we are moving in the right direction and all the stakeholders are in sync.

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Source Link- https://www.thehindubusinessline.com/.

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