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RICS India releasing report on Affordable Housing
30 November 2010
Indian Infoline
Nearly 28 per cent of India's population lives in cities and urban areas - double the level of urbanization at the time of Independence in 1947 - a figure that is expected to rise to 40 per cent by 2020. The growing housing shortage is a culmination of the high rate of urbanization with a majority of housing stock catering to the premium segment, thereby incapacitating a large section of society from owning homes. The high cost of real estate, limited resources and inaccurate product offerings targeted at consumer groups have collectively contributed to the economically weaker sections and low-income groups being severely underserved.
Speaking as the Chief Guest for the event, Kumari Selja, Honorable Minister of Housing & Urban Poverty Alleviation and Minister of Tourism, Government of India, said, 'For a large developing nation like India struggling to keep pace with growing urbanization, informal settlements and growing shortage of affordable houses, we do need to constantly find innovating solutions and discover better practices. Rajiv Awas Yojna would emphasize on these innovative solutions and encourage various kinds of private projects in partnerships. Housing deficit cannot be addressed by budgetary support alone; we have to rope in the private sector to mobilize private investments in affordable housing. I invite all the stakeholders, particularly the banks, financial institutions and the real estate sector to come forward to make use of the opportunities provided by our schemes and work hand-in-hand to make a lasting impact in solving India's housing challenge.'
The RICS research report 'Making affordable housing work in India' is based on a study of the housing dynamics in India, the initiatives undertaken by the Indian Government and frameworks in comparable international cities where housing programs have been successfully implemented. International cities that have been studied in the report are Hong Kong, London, Singapore, Johannesburg, Amsterdam, Adelaide, San Fransisco and Vancouver.
Speaking at the conference, Mr. Sachin Sandhir, Managing Director and Country Head, RICS India said, 'The objective of this report is to look at International best practices, to see what has worked in other parts of the world and what enabling strategies Governments have used to improve housing markets along with the examples of good work that has happened in India, so as to determine what partnership models, schemes and incentives would actually work for India. Based on discussions at the conference today, RICS will be submitting key recommendations for consideration by the Ministry of Housing and Urban Poverty Alleviation.'

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V Radical changes needed for UK private rented sector - Sir Adrian Montague's review ...
more >>
V The States of Jersey - Affordable homes 'not a pipedream' ... more >>
Levvel were chosen as International Knowledge Partner by the RICS India. Stuart Woodward, Managing Director of Levvel attended the conference titled 'Practical Solutions for Delivery of Affordable Housing' which took place in New Delhi.

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Stuart Woodward, Managing Director of Levvel International is available for conference speaking.
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