Housing for all – PMAY, etc.

Centre takes steps to speed up affordable housing schemes

Ministry of Housing and Urban Poverty Alleviation along with other ministries will set up a system through which affordable housing projects are cleared at a faster pace.

  1. The govt. is battling a housing deficit of 18.78 million units, of which economically weaker population requires 95% of housing units.
  2. The Centre is urging states to reduce stamp duties, registration and conversion fee.
  3. This will help in quickly filling the housing stock for the poor and low-income people across 989 cities.
    The main hurdles in filling the housing stock are :

    • Shortage of land in urban areas
    • Stringent land use regulations
    • Inadequate infrastructure to support more housing neighbourhoods
    • Rising costs of construction material
    • Insufficient financing
    • Restricted mortgage financing
    • Rent control laws
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