Amid housing shortage
of up to 2.5 Crore units in India, urban development secretary Mr. Sudhir
Krishna said there are 1.10 Crore homes that are vacant as per the latest
census figure and out of that 10% lies in the National Capital Region (NCR).
Addressing a real
estate conference organised by the RICS, a global body to set standards for
real Estate Sector, Krishna said the centre is revisiting rental law to boost
housing supply. He suggested that real estate projects, whether built by
government bodies or / private
developers, should be handed over to the local municipalities for maintenance
purpose.
"We have a
housing shortage of 2.5 Crore units as per one estimate and 1.9-2 crore units
as per another projection. We have vacant housing as high as 1.1 crore units as
per the latest 2011 census,"the secretary said.
Mr. Krishna said 10%
of the vacant and unoccupied homes are located in the NCR. The centre had
projected the total housing shortage in the country at 18.78 million in the
beginning of the 12th Five Year Plan (2012-17).
More than 90% of
shortage exists for the EWS / LIG section of society. Expressing concern over
the slow pace of urbanisation, he said at least 70% of the population should
live in urban area. "We have not urbanised enough.The urbanisation level
of 31% is not enough. It is a serious issue, "Krishna said, adding that
slow pace of urbanisation is putting huge pressure on rural land, which is
resulting in fragmentation of land holdings to the disadvantage of farmers. The
secretary mentioned that there is lot of scope in the real estate sector for
all stakeholders.
Mr. Krishna noted
that the government was giving big thrust on housing for weaker section, but he
was worried that houses were not being occupied by the beneficiaries. Favouring
'management of built environment in legally sound manner',Krishna said time has
come that 'maintenance activities' should not be with developers.
"Built space
should be handed over to local bodies,"he said,asking RICS to consider
this suggestion. Speaking on the occasion, CBRE- South Asia CMD, Anshuman
Magazine, said that the real estate sector would get a boost if there was an
abundant long-term funding at much lower cost, improvement in infrastructure
facilities and higher economic growth.
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