Policy support needed from govt to solve issue of affordable housing

SME News, Saturday, Oct 06, 2012 13:01:48 PM IST

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CHENNAI: The administrations both at centre and state level would be needing to offer policy support for ensuring the supply of affordable housing, said Ajit Chordia, MD of Olympia Techpark Ltd. He also said that just earmarking 1% of housing projects for the economically weaker section does not solve the issue of housing.

While speaking at a seminar on affordable housing for all, organised by CII, Chordia said, “Sheltering the bottom of the pyramid.” The issue can be solved when governments at all levels support affordable housing by bringing down cost of construction by allotting land, cutting down interest costs and also bringing improvement in the transport infrastructure to link peripheries.

The actual cost of construction can be lowered only when land is available from Centre at low cost, interest rates and levies are lowered and also statutory nods are given on time.

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