Real Estate, Housing & Urban Development

The rapid pace of urbanization in India has resulted in severe shortage of housing and basic services like potable water, drainage system, sanitation facilities, electricity, roads and appropriate disposal of solid waste. It is projected that urban population will increase to 600 million by 2031. The current housing deficit in India stands at 19 million units, which, in the absence of any meaningful intervention, is slated to double to 38 million units by 2030. 95% of this deficit is in the Economically Weaker Sections and Low-Income Group segments, which technically puts the figure at a staggering 18 million units in this category.

Against the backdrop of impending large-scale urbanization in India over the next few decades, it is important to identify, evaluate the needs of, and address the challenges faced by the largest chunk of urban housing consumers with the most pressing needs. Given the magnitude of housing shortage and budgetary constraints of both the Central and State Governments a multipronged approach such as involvement of Private Sector, Cooperative, Non-Governmental Sector, Industrial Sector and Institutional Sector will be required to promote rental housing. The Government's mission Housing for All by 2022 is a significant step in the right direction to transform the Affordable Housing paradigm in India. The Government of India has taken several initiatives for housing for all. However, more such initiatives are further required to provide housing for all.

Therefore, with a view to discussing various key aspects of brining growth with stability and to create a vibrant, sustainable, and inclusive housing market in India, ASSOCHAM's Real Estate Council closely works with the Government and industry to bring together all concerned groups in housing segment to a common platform to provide impetus towards providing housing for all. The Council addresses industry issues in Housing, Housing Finance, and urban development segments.

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