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Are our policy planners and key stakeholders of realty sector serious about providing affordable homes to millions of Indians?
According Mr. Arun Mohan, a senior advocate and writer, all the advertisements whether by the builders or the local development authorities, bank finances are for the top few- about 4%! While the lower 52% will have to wait for the country to develop further.
The issue has perforce to be addressed from the standpoint of annual household income. Presently, only those with Rs 5 lakhs plus annual income are attended to. Unless we attend the middle class, which we really can, we can never hope to attend to the 52% poorer masses.
Three areas that deserve urgent attention to provide affordable homes are: one, availability of land for housing; two, availability of flats which are affordable; three, availability of bank finances. There is another reason because of which prices are so high and the market is restricted. And this is crisis of confidence