NEW DELHI, September 16: Inviting investments from private players in housing sector, government today said they can play a key role in achieving the goal of 'Housing for All' by 2022.
This is the time when private players should come forward and play an active role in providing decent housing for the needy people at an affordable cost, Housing and Urban Poverty Alleviation Minister M Venkaiah Naidu said at an event organised by ASSOCHAM here.
Currently, there is a shortage of 18.78 million houses and close to 2.34 million homes need to be constructed every year during the next eight years to address the issue.
Investment in the sector will not only help expand the existing stock of housing units but also improve the working and living conditions of people, Naidu said.
Assuring the slum dwellers, he said, "Either houses will be constructed at the same place or you will be provided housing at other place. Before that no one will be ousted from their existing houses."
Referring to Pradhan Mantri Awas Yojna, he said several innovative steps have been taken to provide affordable housing to poor people of urban areas and mentioned interest subsidy for low income group people and slum redevelopment plan under the housing mission of the government.
Naidu also highlighted relaxation of FDI norms in housing sector such as reducing the minimum investment from $10 million to $5 million and minimum built up area for a project from 5 lakh sq metre to 2 lakh sq metre.
