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Urban Development Minister Seeks More Support From Banks in Affordable Housing

On : Jun 20, 2014

New Delhi:

Emphasising the need to formulate new schemes aimed at slum redevelopment and affordable housing for urban poor, Urban Development and Housing and Poverty Alleviation Minister Venkaiah Naidu on Tuesday observed the need to give a fillip to the flow of bank finance for poor in urban areas.

Mr Naidu held a series of review meetings regarding ongoing tasks of the Ministry of Housing and Urban Poverty Alleviation and also to finalise the broad features of the new proposed schemes.

He issued instructions for the expeditious completion of houses under construction, estimated to be around 3.77 lakh, as the top-most priority under the JNNURM (Jawaharlal Nehru National Urban Renewal Mission), which is scheduled to close in March 2015.

The minister noted that of the 14.43 lakh houses embarked upon, only 8.09 lakh could be completed and of these 2.22 lakh were yet to be occupied by the allottees.

Mr Naidu also directed for formulation of new schemes for slum redevelopment and affordable housing for the urban poor.

In addition to this, he directed enlargement of the skill upgradation component in the urban livelihood programme, according to an official release.

Mr Naidu impressed upon the officers that new schemes should be aimed at bringing maximum benefit to the excluded sections of the society, especially those belonging to the weaker sections.

He stated that these schemes must be simple in conception and actively involve various stakeholders including state governments, urban local bodies, civil society/NGOs as well as banks and financial institutions.

The minister called for involvement of the private partners through a transparent and competitive process so as to inject more managerial and financial efficiencies in the execution of the projects.

Mr Naidu observed that in view of the huge shortage of urban housing, estimated at around 19 million, active participation of all the stakeholders in a synchronous fashion is necessary.

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