Affordable housing might stand a chance to get the much-sought-after infrastructure tag provided the Union government passes the Bill to regulate the realty sector.
The institutional mechanism for updating the ‘Harmonised list of infrastructure sub-sectors’ has held that special treatment could be given to affordable housing as a “carve out in housing sector” but regulation of the sector is a pre-requisite. This would require the government to pass the Real Estate (Regulation and Development) Bill, 2013, that could not be tabled in the recent monsoon session.
A panel headed by the secretary of the Department of Economic Affairs constitutes the institutional mechanism for updating the master list of infrastructure sub sectors. Other members include representatives from the Reserve Bank of India, Sebi and Irda. The panel took up the matter following a case made by the Ministry of Housing and Urban Poverty Alleviation for inclusion of affordable housing in the list.