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Govt can Take Measures to Provide Affordable Housing

Comments Off on Govt can Take Measures to Provide Affordable Housing   |   March 17, 2009    04:15pm   |Contributed by Indian Realty News

A high-level task force of the government has recommended setting up of a “real estate regulator” and a dedicated institutional framework to look into the issue of providing affordable houses to the people. The regulator could serve as a single window for overseeing and monitoring the affordable housing agenda and promote policy reforms like stamp duty and registration and protect consumer from real estate fraud, the task force, constituted by the Ministry of Housing and Urban Poverty Alleviation, said.

Besides, it can coordinate digitisation of land records, the task force underlined. The recommendation assumes significance as high price has put housing projects in metros and emerging towns beyond the reach of the common man. A couple of months back, Housing Development Minister Jaipal Reddy had asked developers to exploit the slump in the market with affordable housing schemes, but the appeal had little response. “The fact of the matter is that today most of the developers are going for high-end projects that sell at a premium in the market. As a result, buyers with limited resources are left with little options,” a ministry official said.

News Published Under:   Real Estate India | Comments Off on Govt can Take Measures to Provide Affordable Housing