New Delhi witnessed a pivotal moment in India’s housing sector as Union Minister for Housing and Urban Affairs, Manohar Lal, called for unified efforts to make home finance accessible, affordable, and inclusive for every citizen. Speaking at the International Conference on Evolving Landscape of Housing Finance held at Bharat Mandapam, the minister emphasized the need to bring all stakeholders together.
Manohar Lal highlighted the critical role of integrated urban planning, particularly linking housing development with transportation infrastructure. He advocated for visionary policy innovations that address the growing urban challenges. A key proposal was the establishment of a National Housing Exchange, backed by comprehensive data on available properties across locations. This platform would empower citizens to find suitable homes near their workplaces, reducing commute times through mutually beneficial property swaps.
Drawing from a joint study by NITI Aayog and the Ministry of Home Affairs, the minister revealed stark demographic projections: India’s urban population stood at 50 crore in 2021 and is expected to surge beyond 85 crore by 2050. This shift will dramatically increase the demand for affordable housing nationwide, he warned.
To prepare for this urban explosion, Manohar Lal stressed the urgency of transit-oriented development (TOD) models. These would foster robust urban infrastructure, making housing more accessible and sustainable. He urged banks, housing finance companies, and the National Housing Bank to expand housing inventories and provide greater loan support across the country.
In a stirring conclusion, the minister reaffirmed Prime Minister Narendra Modi’s vision of ensuring every eligible citizen has access to a dignified home. This commitment underscores the government’s unwavering dedication to housing for all. The conference, attended by professionals from government bodies, multilateral institutions, global entities, private equity firms, and housing finance companies, served as a vital platform for dialogue, knowledge sharing, and strategic collaborations to tackle challenges and seize opportunities in affordable housing and urban development.