The Union Housing
Ministry has urged the private developers / Builders to develop business models
for affordable housing to the poor & the low income group in cities.
At a symposium on
affordable housing recently, the Housing Minister Mr. Girija Vyas said, ''The
upper & middle income groups account for the dominant portion of house
purchases while the economically weaker section (EWS) has been left out of the
real estate development. There is a shortage of 18.78 million houses with the
poor hit by 96% cent of the shortfall. The private sector & the Government need to partner in addressing
this challenge".
Mr. Girija Vyas said,
''My Ministry is modifying all the major schemes including the Rajiv Awas
Yojana for rehabilitation of slum dwellers, Rajiv Rinn Yojana for providing
interest subsidy on home loans, Affordable Housing in Partnership scheme to
attract private players in housing, and the National Urban Livelihoods Mission
to boost the employment potential of the urban poor and enormous budgetary
support has been earmarked during the current plan period."
There are supportive
measures under consideration of the Uniion Housing Ministry including
concessions to development related charges, and Service Tax exemption, Direct
Tax rebates for Affordable Housing projects and inclusion of the sector in the
infrastructure category.
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