Chennai:
Tamil Nadu is facing a
shortage of 1.5 million homes in the urban areas and there is an urgent need to
regulate and streamline private urban rental housing to enable access to urban
poor, according to State Urban Housing and Habitat Policy (SUHHP) being drafted
by German agency GIZ along with the state housing board.
It is learnt that through the
new policy, the policy and government subsidies towards housing will undergo a
significant change with focus being more on streamlining private urban rental
housing.
The state will be looking at
housing supply intervention in the state as an integrated market rather than sub-markets
for different income groups as failure in any sub-market will have ramifications
across the city.
It feels that housing supply
intervention for urban poor is often usurped by the low income group and middle
income categories in the city.
The policy will also focus on
lack of access to credit for urban poor. In the absence of documented income
proofs, irregular income and absence of collaterals, it is difficult for the
poor to access funds, the draft policy observed.
It is learnt that the focus
under SUHHP will be urban renewal strategies which allow densification of core
city area and redevelopment of congested and dilapidated housing stock.
Another event of concern is
the transaction cost imposed during conversion of land to built space through
various land and housing regulations which constitute 10 to 25pc of urban
dwelling price across India. The policy will try to implement reforms in land
and housing that can reduce the transaction costs and lower housing prices
What the policy will look
into:
1. It will come out with frameworks to bridge
affordability gaps
2. It will look into rental housing demand and supply
side intervention
3. Tenure security and regularization
4. Unlocking vacant housing
5. Improving supply of serviced land
6. Reforms in key land and housing regulations that
affect supply
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