The investment arm of World Bank, IFC (International Finance Corporation), which has embarked on a major initiative in the housing finance sector in India for the first time,. It is looking at supporting mass housing and affordable housing.
Dovetailed with this initiative will be efforts to keep the housing projects it supports in line with appropriate green building initiatives - environment friendly, energy, water and other resources efficient structures - that minimise the environmental impact of built-up space.
IFC plans to work with many agencies, including the regulatory authorities, private sector players.
Mr. Prashant Kapoor, Senior Industry Specialist, IFC, Washington., who has specialised in the affordable housing segment, outlined some of IFC's plans to support the affordable housing projects targeting the low -middle and less affluent segments - possibly housing in the Rs,.5-7 lakh range - where there is virtually no supply, with the market focussed on the upper-middle and affluent segments.
IFC is keen on supporting the private sector house builder, who is capable of delivering value housing, rather than the run-of-the-mill developer who speculates on the value of land, he cautions.
It will bring in the expertise it has built up internationally, particularly in economies in Latin America and South East Asia, where they have solved the problem of affordable housing, despite high GDP growth rates that are driving up costs.
IFC also is working with the requlator of India's hosunig finance companies, NHB (National Housing Bank) on a report for addressing affordable and environment-friendly housing. IFC, which has built up expertise in mass housing and green buildings, hopes to work at the ground level, apart from Central Government institutions such as the Bureau of Energy Efficiency. While IFC will work with agencies such as the Bureau of Energy Efficiency, its focus will be more on working at the ground level with State-level agencies. It is keen for ‘traction at the ground level'.
State governments such as Rajasthan, Gujarat and Tamil Nadu are moving in the right direction, and can benefit from support in developing knowledge in human resources among the authorities.
IFC is talking to some developers in major cities to explore opportunities for direct financing of projects. It is looking at basic standards - along the lines of the rainwater harvesting initiative, solar water heaters for houses.
Src: BL
Dovetailed with this initiative will be efforts to keep the housing projects it supports in line with appropriate green building initiatives - environment friendly, energy, water and other resources efficient structures - that minimise the environmental impact of built-up space.
IFC plans to work with many agencies, including the regulatory authorities, private sector players.
Mr. Prashant Kapoor, Senior Industry Specialist, IFC, Washington., who has specialised in the affordable housing segment, outlined some of IFC's plans to support the affordable housing projects targeting the low -middle and less affluent segments - possibly housing in the Rs,.5-7 lakh range - where there is virtually no supply, with the market focussed on the upper-middle and affluent segments.
IFC is keen on supporting the private sector house builder, who is capable of delivering value housing, rather than the run-of-the-mill developer who speculates on the value of land, he cautions.
It will bring in the expertise it has built up internationally, particularly in economies in Latin America and South East Asia, where they have solved the problem of affordable housing, despite high GDP growth rates that are driving up costs.
IFC also is working with the requlator of India's hosunig finance companies, NHB (National Housing Bank) on a report for addressing affordable and environment-friendly housing. IFC, which has built up expertise in mass housing and green buildings, hopes to work at the ground level, apart from Central Government institutions such as the Bureau of Energy Efficiency. While IFC will work with agencies such as the Bureau of Energy Efficiency, its focus will be more on working at the ground level with State-level agencies. It is keen for ‘traction at the ground level'.
State governments such as Rajasthan, Gujarat and Tamil Nadu are moving in the right direction, and can benefit from support in developing knowledge in human resources among the authorities.
IFC is talking to some developers in major cities to explore opportunities for direct financing of projects. It is looking at basic standards - along the lines of the rainwater harvesting initiative, solar water heaters for houses.
Src: BL
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