Approach to Housing Policy: The Indian Perspective

DOI: 10.5176/2301-394X_ACE18.33

Authors: Ms. Ratna Ghosh

Abstract:

The housing sector in India has evolved from a ‘social welfare’ provision to a ‘market-based’ industry, pulling in enormous investments from the private sector. It has grown from a ‘basic’ right to becoming a key driver in the economy, considering its huge multiplier effect. Housing currently contributes 5-6% to the nation’s GDP and employs almost one-fifth of the total working population. This paper examines the sequential evolution approaches taken and correspondingly, the instruments employed to regulate and control the housing sector. It is found that the policy postulates over time have been designed to support the private sector and provide them an enabling environment to tackle the growth housing stress in the country. A multi-stakeholder approach is increasingly being adopted to de-centralize the housing delivery process. The integration of housing development with master planning and land use planning has been heightened in the latest policies.

Keywords: Housing; policy; market; instruments; stakeholders; developers

The housing sector in India has evolved from a ‘social welfare’ provision to a ‘market-based’ industry, pulling in enormous investments from the private sector. It has grown from a ‘basic’ right to becoming a key driver in the economy, considering its huge multiplier effect. Housing currently contributes 5-6% to the nation’s GDP and employs almost one-fifth of the total working population. This paper examines the sequential evolution approaches taken and correspondingly, the instruments employed to regulate and control the housing sector. It is found that the policy postulates over time have been designed to support the private sector and provide them an enabling environment to tackle the growth housing stress in the country. A multi-stakeholder approach is increasingly being adopted to de-centralize the housing delivery process. The integration of housing development with master planning and land use planning has been heightened in the latest policies.

simplr_role_lock: The housing sector in India has evolved from a ‘social welfare’ provision to a ‘market-based’ industry, pulling in enormous investments from the private sector. It has grown from a ‘basic’ right to becoming a key driver in the economy, considering its huge multiplier effect. Housing currently contributes 5-6% to the nation’s GDP and employs almost one-fifth of the total working population. This paper examines the sequential evolution approaches taken and correspondingly, the instruments employed to regulate and control the housing sector. It is found that the policy postulates over time have been designed to support the private sector and provide them an enabling environment to tackle the growth housing stress in the country. A multi-stakeholder approach is increasingly being adopted to de-centralize the housing delivery process. The integration of housing development with master planning and land use planning has been heightened in the latest policies.

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