In a bid to tackle urban housing shortage and to achieve the targets of providing housing to people under the National Building Code (NBC), the urban development ministry will hold a meeting with developers, financial institutions, law firms and suppliers to discuss the way forward.
Also on agenda will be the proposal of setting up a real estate regulator, finalising a mechanism which that help in streamlining of the various clearances required and the procedures involved.
Currently, urban housing shortage is estimated at 18.78 million with 95% in the lower income group (LIG) and economically weaker sections (EWS) categories. This, as per experts, may go upto 38 million by 2030 if the rate of supply remains at the current level. As of now, nearly 28% of India’s population lives in cities and urban areas—which is likely to rise to 40%by 2020.
“The meet will lay down a platform to address issues such as abolition/redefining old working systems... Bylaws, Acts, rules, regulations and giving a fresh look after interaction with the private sector,” a government official said.
Providing final shape to affordable housing policy will also be discussed at length, with the ministry sharing whatever it has formulated till now. “The consultation with developers, financial institutions and law firms will give final touches to it,” the official said.
Navin Raheja, president of the National Real Estate Development Council, said, “This meeting will be a perfect opportunity to discuss the issues of the sector which are pending for quite some time now.