MAINSTREAMING AFFORDABLE HOUSING IN INDIA

India is a rapidly urbanizing country facing development challenges associated with rapid growth. One of the key challenges for a developing country like India is urban migration, which is further exacerbated by limited resources to meet increasing housing demands. The high percentage of labor migration from rural areas to cities has contributed to urban congestion, pressure on basic amenities such as water and sanitation, etc., and most of all, housing shortages in cities across India. At the national level, the government estimated a shortage of more than 18.78 million homes at the beginning of 2012, of which 95% were in the EWS (Economically Weaker Sections) and LIG (Low Income Group) segments. Further, the country’s total urban housing shortage is projected to be about 30 million by 2022. This ever-increasing gap between demand and supply in the affordable housing segment is forcing people to live in slums and informal settlements. It is evident that the issue, if not dealt with effectively, can have a tremendous negative impact on the country’s economic growth and poverty reduction efforts.