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The Affordable Housing Segment Needs More Clarity And Incentives

Rajbir Achoriwala

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Affordable Housing

Assocham organized a national summit on ‘Housing for All’. The main concern raised by the industry experts was lack of incentives for developers and not much clarity on the affordability concept in the segment.

Lalit Aggarwal, Co-Founder, Signature Global Group said, “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.”

As per the ‘Housing for All’ scheme introduced by PM Narendra Modi, the aim is to build approximately 2 crore houses in the urban areas of India by 2022. Shubika Bilkha, Director, The Real Estate Management Institute (REMI) said, “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.”

“The affordable housing segment is a great move and the benefits of this would be seen over a period of time,” said Ravindra Sudhalkar, Executive Director and CEO, Reliance Home Finance Ltd. Explaining the deadline of 2022, he said that the important thing is that we are moving in the right direction and all the stakeholders are together in it.

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