Experts discuss government's initiative to provide affordable housing and challenges ahead

“The only good part of this set of government, last time when they said toilets for all they delivered 90-95 percent of that mission. So is a mission long required for our country? It is not easy to do but if they put their heart to it like they have done in mission mode in phase one it is possible to do but a lot of changes need to be made both on policy, on land, on approvals etc.”

“If 1 crore homes do get delivered, theoretically on paper, that gap gets bridged. The reality is these homes are today getting bought by a mix of people, people who are buying not necessary their first home, these are people who are also buying a second home in some cases. Maybe moving from a poor quality home to a better quality home and therefore there will be still some gap to be bridged. But it will break the back of this chasm between demand and supply if we are able to deliver those 1 crore homes in the next five years.”

“There is a lot of clarity amongst developers that they want to focus on this affordable, urban affordable residential segment and if you look at the most of the urban centers the top few economies of the nation which is driving economy where is NCR, Mumbai, Bangalore, Chennai, Hyderabad, Pune and such cities you will see 5-6 sectors driving the economies. So IT sector, auto sector, banking and financial services, e-commerce, telecom etc. The needs for the people who are working in these sectors, who want to be in these cities and all the migrant workforce which is coming from other cities and states into these cities to meet their demand the developers have absolute clarity that they come from great scale and a salary scale of Rs 45 -50 lakhs going up to Rs 3 crore. Obviously as you go up the percentage and the pyramid kind of dips so the larger segment will be in Rs 45-75 lakh i.e. housing for the urban centres in the country.”