Bhubaneswar: Despite Odisha had brought out the first “Affordable urban Housing scheme 2012” and a revised scheme “Affordable Urban Housing in Odisha – 2013” that was also published on 26th September 2013, enormous demand-supply gap for affordable housing still exist in the state, experts said on the occasion of a symposium on “AFFORDABLE HOUSING FOR ALL- Challenges and Opportunities” at ‘Enterprise Odisha’ being organized by CII-Odisha chapter here on Saturday.
The Government of India is taking several initiatives for affordable housing. However, many important issues like Land issues, Financing for affordable housing, lack of proper real estate regulator, legal and valuation issues, tax structure, incentives for private developers, technology & cost factor etc, need to be resolved forthwith by the Union Government, to make it viable for developers to provide housing at affordable cost, according to experts.
However, year 2007 onwards, there has been renewed thrust on the subject, especially by way of awarding incentives to enhance the supply side. Noteworthy, even in 2012 union budget, low cost mass housing up to an area of 60 Sqmt per unit which are included in the scheme of ‘Affordable Housing’ in partnership are also exempted from Service Tax.
CII’s considered view is that to help augment the enormous demand-supply gap for affordable housing, properly planned and executed integrated townships fully supported by the Government are definitely the answer to India’s especially Odisha’s growing housing woes. Integrated township are efficient means of social integration while offering the necessary infrastructure as it saves commuting time and cost of transport thus offering higher level of comfort.
According to Credit Suisse, the Year 2044 will be a crucial milestone for India when 50 per cent of the country will be urbanized. By 2015, there will be 52 cities in India with more than 1 million people. Therefore, India needs to create an economic succession from its progression to an urbanized nation by immediately implementing the necessary bold policy measures to tackle the poor planning and lack of housing infrastructure, revealed experts.
Real Estate Developers, Banks and Financial Institutions, Housing finance companies, Policy Makers & Regulators, officials from State Government Departments/ Housing Boards, Municipal Corporations, Urban Planners, Township & Apartment Developers, Construction Companies, Contractors, Architects, Input Manufacturers, Funding Agencies & Investment Bankers, Fund Managers& Venture Capitalists, Private Equity Investors including other Stakeholders deliberated their views on the subject.