Home >Documents >6th Affordable Housing Summit & Excellence Awards · PDF file 2020-06-18 · 8.5...

6th Affordable Housing Summit & Excellence Awards · PDF file 2020-06-18 · 8.5...

Date post:06-Aug-2020
Category:
View:2 times
Download:0 times
Share this document with a friend
Transcript:
  • Affordable Housing: Instrument for Inclusive Development

    Public and Social Policies Management (PSPM) Group, YES BANK

    No part of this publication may be reproduced in any form by photo, photoprint, microfilm or any other means without the written permission of YES BANK Ltd. & ASSOCHAM.

    This report is the publication of YES BANK Limited (“YES BANK”) & ASSOCHAM and so YES BANK & ASSOCHAM has editorial control over the content, including opinions, advice, statements, services, offers etc. that is represented in this report. However, YES BANK & ASSOCHAM will not be liable for any loss or damage caused by the reader’s reliance on information obtained through this report. This report may contain third party contents and third-party resources. YES BANK & ASSOCHAM takes no responsibility for third party content, advertisements or third party applications that are printed on or through this report, nor does it take any responsibility for the goods or services provided by its advertisers or for any error, omission, deletion, defect, theft or destruction or unauthorized access to, or alteration of, any user communication. Further, YES BANK & ASSOCHAM does not assume any responsibility or liability for any loss or damage, including personal injury or death, resulting from use of this report or from any content for communications or materials available on this report. The contents are provided for your reference only.

    The reader/ buyer understands that except for the information, products and services clearly identified as being supplied by YES BANK & ASSOCHAM, it does not operate, control or endorse any information, products, or services appearing in the report in any way. All other information, products and services offered through the report are offered by third parties, which are not affiliated in any manner to YES BANK & ASSOCHAM.

    The reader/ buyer hereby disclaims and waives any right and/ or claim, they may have against YES BANK & ASSOCHAM with respect to third party products and services. All materials provided in the report is provided on “As is” basis and YES BANK & ASSOCHAM makes no representation or warranty, express or implied, including, but not limited to, warranties of merchantability, fitness for a particular purpose, title or non – infringement. As to documents, content, graphics published in the report, YES BANK & ASSOCHAM makes no representation or warranty that the contents of such documents, articles are free from error or suitable for any purpose; nor that the implementation of such contents will not infringe any third party patents, copyrights, trademarks or other rights.

    In no event shall YES BANK & ASSOCHAM or its content providers be liable for any damages whatsoever, whether direct, indirect, special, consequential and/or incidental, including without limitation, damages arising from loss of data or information, loss of profits, business interruption, or arising from the access and/or use or inability to access and/or use content and/or any service available in this report, even if YES BANK & ASSOCHAM is advised of the possibility of such loss.

    Maps depicted in the report are graphical representation for general representation only.

    YES BANK Ltd. Registered and Head Office 9 Floor, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai – 400 018

    Tel : +91 22 6669 9000 Fax : +91 22 2497 4088

    Northern Regional Office 48, Nyaya Marg, Chanakyapuri New Delhi – 110 021

    Tel : +91 11 6656 9000 Email : [email protected] : [email protected]

    Website : www.yesbank.in

    The Associated Chambers of Commerce and Industry of India D. S. Rawat Secretary General 5, Sardar Patel Marg, Chanakyapuri New Delhi - 110021

    Tel : +91 11 4655 0555 Fax : +91 11 2301 7008/9 Email : [email protected] Website : www.assocham.org

    TITLE

    YEAR

    AUTHORS

    COPYRIGHT

    DISCLAIMER

    CONTACT

    2014

  • Instrument for Inclusive Development Affordable Housing

    Foreword Nearly 28% of India’s population lives in cities and urban areas, a figure that is expected to rise to 40% by 2020. The growing housing shortage is a culmination of the high rate of urbanization, with over 300 million people expected to shift to urban cities over the next decade, as estimated in the 12th Five Year Plan.

    Majority of housing in urban areas caters to the premium segment; thereby a large section of society is unable to own homes. According to the National Housing Board (NHB), an investment of INR 8.5 trillion is required for construction of Affordable Housing in slum and non-slum areas. The Government on its own will not be able to cater to this demand and it is essential that administrative structures and policy frameworks facilitate and encourage resource mobilization, including from the private sector.

    Establishing policies that mandate developers to make provisions for the Economically Weaker Sections (EWS) and Low Income Groups (LIG) will encourage the private sector to take up Affordable Housing projects and ensure their timely delivery. Measures like ensuring availability of developed land, TDR, long tenor finance and cheaper loans, Priority Sector Lending, Viability Gap Funding and Single Window clearances will encourage private sector investment and provide much needed impetus to the Affordable Housing segment.

    However, it is also necessary to balance social objectives and ensure regional parity in Affordable Housing growth. A collaborative community model should be established to gradually influence local populations into a partnership framework, enabling community entrepreneurship through effective identification of partners with complementing competencies.

    In this backdrop, I am pleased to present the YES BANK-ASSOCHAM knowledge report, ‘Affordable Housing: Instrument for Inclusive Development’ which highlights key challenges and opportunities, while suggesting a holistic strategy for development of Affordable Housing in India. I am confident that the contents of the knowledge report will provide insights to policy makers, industry leaders and stakeholders in the Affordable Housing space to conceptualize and execute sustainable development models to provide better living conditions and economic security to all sections of our society.

    Thank you. Sincerely,

    Rana Kapoor President Managing Director & CEO

  • Instrument for Inclusive Development Affordable Housing

    Message Defining affordable housing in India is a difficult task given that at every square kilometer of the country, the dynamics of the market are different. Public policies promoting affordable housing in the country represent a win-win proposition at the moment. For the real estate development business, this implies an overall expansion of the market size by extending their focus to the middle and lower-income-group (LIG) of the population. On the other hand, ‘housing for all’ remain a key priority in India’s development agenda. Low-cost housing offers a ‘world of opportunities’ to the real estate development business that could bring in much needed resilience to this sector. Affordable housing is expected to have a positive impact by improving basic quality of life.

    The fact is that our cities are already overcrowded and getting worse everyday, and therefore require a comprehensive and coordinated policy and implementation effort to find decent shelters for our urban poor. Some states are pursuing a policy of mandatory allocation of land by the developers for economically weaker sections and low-income group. The public-private-partnership (PPP) model that has so far been able to work well for many infrastructure development projects could be tried out in the real estate sector also for affordable housing project.

    Keeping this in mind ASSOCHAM in partnership with YES BANK has come out with a Study Paper to generate healthy discussion on issues & challenges that need to be effectively addressed for Affordable Housing in the country. I would like to express my sincere appreciation to the contributors to this document for sharing their thoughts, insights and experiences

    I hope the stakeholders will find the report relevant and useful.

    (D. S. Rawat) Secretary General

    ASSOCHAM

  • 13

    Instrument for Inclusive Development Affordable Housing

  • 14

    Instrument for Inclusive Development Affordable Housing

    Figure 1 Urbanization Rate in India ......................................................................................15

    Figure 2 Proportion of slum households to total urban households (%).................................15

    Figure 3 Investment in Real Estate - Driver for Economy Growth ..........................................16

    Figure 4 Lack of shelter and services – Manifold Implications ..............................................16

    Figure 5 Housing Shortage (Mn)) (Condition of Housing and Infrastructure) .........................17

    Figure 6 Housing Shortage (Mn) ...........................................................................................17

    Figure 7 Housing Affordability .............................................................................................18

    Figure 8 Affordable Housing: Cost and Location ..................................................................19

    Figure 9 Housing Finance .................................................................................................... 20

    Figure 10 Affordable Hou

Click here to load reader

Embed Size (px)
Recommended