Presentation of the report of the task force on affordable housing for all

Provision of affordable housing is one of the most formidable challenges that India currently faces. The 11th Five Year Plan estimates the urban housing shortage at the commencement of Plan period at 24.7 million units, with 99% of this shortage pertaining to the Economically Weaker Sections (EWS) and Lower Income Groups (LIG). Taking these into account, Ministry on Housing & Urban Poverty Alleviation had set up a High Level Task Force to look into the various aspects of providing Affordable Housing for All under the Chairmanship of Deepak Parekh, Chairman – HDFC Ltd. The Task Force has strongly recommended the need for Affordable Housing’ and mentioned that delay in addressing the affordable housing problem would seriously affect India’s economic growth and poverty reduction strategies. The Task Force estimates that alleviating the urban housing shortage could potentially raise the rate of growth of GDP by at least 1-1.5 percent and have a decisive impact on improving the basic quality of life.

Courtesy Et dtd. 14th jan 2009