Housing for All, But Not Ownership
Migration will make rental housing a necessity
Housing for all by 2022 seems a daunting task but the target is achievable in terms of the number of units built, provided there is proactive policy and revamped institutional mechanism in place. The chief challenge is to locate housing in an overall context of urbanisation, with its attendant challenges of releasing land, town planning, energy efficiency and costs. Further, given the reality of large-scale internal migration along with urbanisation, policy must delink availability of a place to stay from home ownership. That brings into the picture sensible laws to create a vibrant market for rental housing.The present housing shortage nationwide is put at six crore units and rising, but with growing urbanisation, the backlog is likely to increase to 11 crore dwelling units in seven years, as per one recent projection. The cumulative investment requirement is put at $2 trillion, and further that 1.72 lakh hectare of land is likely to be required for urban residences -much of which would need to be affordable for low-income groups.
And, of course, the vast bulk of the re sources would need to be earmarked for urban housing. The fact is that the Centre and the states budget barely $5-6 billion annually for housing and the requirement is of the order of $250-260 billion each year, primarily by way of public-private partnership. Reducing the gestation period of projects through efficient processes would significantly cut costs.
Housing is not just brick and mortar. For buildings to become residences, they have to be situated amidst schools, hospitals, police stations, playgrounds and other amenities, besides a framework of governance. Urban local bodies need to be created -in very many new towns, civil servants man authorities and no local governments exist -and empowered. Independent regulatory oversight is vital too. Updated norms for prefabricated buildings and skills to deploy them are essential. Public housing can be part of the mix. Thanks to overly protenant rent control laws, we have as many as two crore houses lying vacant!
And, of course, the vast bulk of the re sources would need to be earmarked for urban housing. The fact is that the Centre and the states budget barely $5-6 billion annually for housing and the requirement is of the order of $250-260 billion each year, primarily by way of public-private partnership. Reducing the gestation period of projects through efficient processes would significantly cut costs.
Housing is not just brick and mortar. For buildings to become residences, they have to be situated amidst schools, hospitals, police stations, playgrounds and other amenities, besides a framework of governance. Urban local bodies need to be created -in very many new towns, civil servants man authorities and no local governments exist -and empowered. Independent regulatory oversight is vital too. Updated norms for prefabricated buildings and skills to deploy them are essential. Public housing can be part of the mix. Thanks to overly protenant rent control laws, we have as many as two crore houses lying vacant!
