India is going with a rapid urbanization now which requires expansion of urban amenities. The government has set 2022 as the target year to realize the objective by making specific objective by creating specific initiatives for the promotion of urban housing. Government of India added yet another feather to its cap that there should be no harm in vision for the objective Housing for All by 2022.
PM Modi asked its government to remove all the hurdles to achieve the objective of the Mission- Housing for All by 2022 as stated in the first ‘Pragati’ review meeting recently. He also underlined some important measure like no family will be left without a home by 2022. This seems to be another cherry on the cake. Before this, Rental, affordable housing got a boost in Budget 2019 as in this budget it has been proposed to increase the tax break on the interest paid on loan for affordable housing by Rs 1.5 lakh.
Mr. Pradeep Aggarwal, Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development, Founder and Chairman – Signature Global India Pvt. Ltd. said, “This vision is highly desirable because housing is one among the three basic needs and it needs to be fulfilled especially for the people who are falling shortage of houses. So government assistance is required and that is why we are here to fulfil the goal of Housing for All by 2022.”