INDIA- AFFORDABLE HOUSING IN URBAN AREA

India has been experiencing rapid population growth together with rising levels of urbanization for a long time. The rising importance of urban areas in taking a share of not only population but also economic growth became much apparent after the 1980s when urbanization rates were growing. Accompanying the process of urbanization is the issue of housing population and shortages were evident as early as in the 1970s and 80s, primarily attributed to the lack of construction technologies and methods that lead to the advancement of supply. Whereas housing shortage was well existing throughout the period after independence, there has been a gradual shift in housing problems in urban areas from the shortage of housing available to the lack of housing affordability. Land cost and its availability, apart from availability and access to finance, have been becoming an important determinant of house prices in cities. By implication, housing has become out of the reach of several million due to the high rise of house prices in comparison to their incomes.