The central Housing & Urban Poverty Alleviation Minister, Ms Kumari Selja said, ''Developers need to focus on affordable (low) rental housing as land acquisition has become one of the biggest constraints in urban India. The Minister called upon real estate players to come up with innovative ideas on rental housing as an option for EWS's (economically weaker sections) in urban areas.
Ms Kumari Selja also said, ''The central government was looking at single-window clearance for the multiple clearances required for housing construction. This will hopefully reduce the time consumed for approvals to 6 to 8 weeks, which could ultimately reduce the cost of houses by 25 to 40%. The Government had formed a committee in to evolve a workable strategy in this regard. The committee, under chairmanship of Mr. Dhanendra Kumar, former Chairman, Competition Commission of India, will submit its report in 4 months"
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The Minister Ms Kumari Selja said, ''Recently established Credit Risk Guarantee Fund Trust was coming up with a scheme to provide loans up to Rs. 5 lakh for low income housing. The initial corpus of this fund will be Rs. 1,000 crore and we hope it will catalyse nearly Rs. 20,000 crore of affordable housing credit"
Mr Naveen Raheja, Chairman, ASSOCHAM * Real Estate Committee, called for partnerships on affordable housing between the Central, State Governments, urban local bodies, people’s cooperatives and the private sector.
* Associated Chambers of Commerce and Industry of India
Ms Kumari Selja also said, ''The central government was looking at single-window clearance for the multiple clearances required for housing construction. This will hopefully reduce the time consumed for approvals to 6 to 8 weeks, which could ultimately reduce the cost of houses by 25 to 40%. The Government had formed a committee in to evolve a workable strategy in this regard. The committee, under chairmanship of Mr. Dhanendra Kumar, former Chairman, Competition Commission of India, will submit its report in 4 months"
.
The Minister Ms Kumari Selja said, ''Recently established Credit Risk Guarantee Fund Trust was coming up with a scheme to provide loans up to Rs. 5 lakh for low income housing. The initial corpus of this fund will be Rs. 1,000 crore and we hope it will catalyse nearly Rs. 20,000 crore of affordable housing credit"
Mr Naveen Raheja, Chairman, ASSOCHAM * Real Estate Committee, called for partnerships on affordable housing between the Central, State Governments, urban local bodies, people’s cooperatives and the private sector.
* Associated Chambers of Commerce and Industry of India
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