New PPP policy for affordable Housing announced

Central Government has announced a new PPP Policy for Affordable Housing that allows extending central assistance of up to Rs.2.50 lakh per each house to be built by private builders even on private lands besides opening up immense potential for private investments in affordable housing projects on government lands in urban areas.

Minister of Housing & Urban Affairs Shri Hardeep Singh Puri announced this policy that gives eight PPP (Public Private Partnership) options for private sector to invest in affordable housing segment. He was addressing the ‘Real Estate & Infrastructure Investors Summit-2017’ organized by real estate body NAREDCO in Mumbai. Shri Puri explained that this policy seeks to assign risks among the government, developers and financial institutions, to those who can manage them the best besides leveraging under utilized and un-utilized private and public lands towards meeting the Housing for All target by 2022.