Relationship between employment and housing:
Based on an interview of Mr. Srinivas Acharya, managing director of Sundaram BNP Paribas Home Finance.
Growth in stable employment opportunities and addressing local infrastructure concerns are key for housing demand to go up in established cities. The affordable and above affordable sector of housing do see a definite demand whenever the government addresses the employment generation issues.
Interest rates do not drive the sentiments any longer. The need for house does drive. The need is certainly there, but the local infrastructural issues have to be addressed.
The recent Budget had directed its attention to the home construction sector in a very noticeable manner. This was a great positive for the sector. With the increased push to infrastructure and tax-benefits for building affordable houses, the budget has certainly given a very positive push. But, what ails the construction sector is the absence of established norm for lending to this sector.
Source: The Hindu
Technology in Urban Homes – Global Housing Technology Challenge:
Niti Aayog CEO Amitabh Kant recently said – “We cannot meet urbanising India’s housing needs with existing technologies. Most Indian developers take three years to complete a project. Houses must be completed in four to five months time. What we need is not technology leapfrogging, but pole-vaulting.”
The urban section of Pradhan Mantri Awas Yojana or Housing for All, has completed just over 10% of its target as the scheme reaches its halfway point (in January, 2019).
To tackle this problem, the Centre will offer about Rs. 150 crore as a technology innovation grant to build 6,000 homes – cheaper, faster and better — using alternative technologies and materials under the recently launched Global Housing Technology Challenge.
After a global expo and conference in March, the Ministry of Housing and Urban Affairs will invite bids and identify proven demonstrable technologies from around the world, which are to be adapted and mainstreamed for use in the Indian context.
Another section of the Challenge will identify potential future technologies which may not yet be market ready, and offer incubation facilities and accelerator support in collaboration with four of the IITs.
Source: The Hindu