• India CSR Awards 2025
  • Guest Posts
Sunday, June 1, 2025
  • Login
India CSR
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
India CSR
No Result
View All Result
Home Articles

Housing for All by 2022, From restrictive to transformative Era

Over the span of seven decades, India's real estate and housing sector has evolved from a state of inadequacy and restrictive policies to a stage of progressive development and organized reform.

India CSR by India CSR
August 17, 2017
in Articles
Reading Time: 7 mins read
Housing for All by 2022, From restrictive to transformative Era
0
VIEWS
Share Share Share Share

By Vinod Behl

In its seven decades of journey since independence, the real estate and housing sector, has come a long way from early years of restrictive policies, deficient planning and highly inadequate resources, to reach a progressive, planned, organised and reformative stage, facilitating urban transformation and speedy economic growth.

Government Initiatives in Early Years (1947 – 64)

The present government’s vision is to ensure long-term inclusive development through good governance and transformative reforms to boost real estate, housing, and infrastructure – the vital sectors that hold the key to economic development. It is a far cry from the early years after independence when not much attention was paid to housing/urban infrastructure due to a lack of resources and staff capacity to design and deliver. But, it was during this period that the government introduced state housing boards, mandated to construct houses for the public and laid the ground for planned cities, subsequently leading to the establishment of Chandigarh & Gandhinagar in 1952 and 1960 respectively.

Policy Boost and Formation of Institutions (1965-1990)

In later years after independence but in the pre-liberalisation era, there were marked regulatory restrictions. But it was during this period that the policy boost was given to the growth in the housing finance sector, with the formation of Housing Urban Development Corporation (HUDCO), National Housing Bank (NHB), and Housing Development Finance Corporation (HDFC). The Urban Land Ceiling Act was passed in 1976 with the purpose of curbing speculative land pricing but was later repealed by all states except West Bengal & Kerala as it failed to serve its purpose. Significantly, during this period (1988), the National Housing Policy came into being and a rural housing scheme for the downtrodden was launched.

Government’s Role as Enabler (1991-2000)

In the post-liberalisation period, the role of the government as an enabler, away from the direct provider of housing as proposed in the National Housing Policy, was further reinforced with the creation of efficient legislative, legal, and financial frameworks for the private sector for the development of real estate and housing. Further, to give a boost to urban development and housing, urban local bodies were empowered, and the housing finance market was deepened.

India CSR
ADVERTISEMENT

Urban Development Initiatives (Post-2000)

In the post-2000 period of economic globalization, JNNURM, an urban-focused programme to encourage cities to go for phased improvements in civic service levels, involving investment of $20 billion, was launched in 2005.

Big Boost to Housing since 2014

Real estate, housing and infrastructure are at the forefront of Modi government’s policy to boost economy and push up growth. When NDA government, led by Prime Minister, Narendra Modi took over in May,2014, economy was in shambles, inflation & current account deficit were high and projects were stuck due to corruption and policy paralysis and foreign investment was hit. But, with its focus on good governance and through a spate of reforms, the NDA government could manage to restore the growth. It has brought down fiscal deficit from 4.5 percent in 2013-14 to 3.5 percent in 2016-17, targeting 3.2 percent in 2017-18. The GDP growth that had fallen to 6.6 percent in 2013-14, clocked 7.1 percent in 2016-17 and Moody has projected 7.5 percent growth rate in 2017-18.

Liberalization of FDI and its Impact

Immediately after taking over, the government liberalized FDI in construction development, significantly reducing minimum area and capital investment requirements for foreign real estate developers. This eased foreign investment for the sector, troubled by regulatory bottlenecks and paucity of funds. The second wave of FDI reforms in 2016, allowing 100 percent FDI in civil aviation, food processing sectors and easing norms in defence and pharmaceutical sectors, was much to the advantage of real estate. In fact, the positive impact of FDI reforms is already visible. Foreign investment has shot to record $156 billion during 3 years of Modi government, with FDI in real estate touching $5.7 billion, according to 2016 World Investment Report of United Nations. During UPA time, it was $1.2 billion in 2013-14.

Urban Transformation Initiatives

Fully realizing that cities are the engines of growth, Modi government, following the global trend of promoting urbanisation, directed its policies towards improving cities productivity. It launched key reform programmes of ‘Atal Mission of Rejuvenation & Urban Transformation’ (AMRUT) & ‘100 Smart Cities Mission’, with investment of about one lakh crore, over 5 years, adopting incentive based approach, directly linking financial incentives to reforms undertaken by urban local bodies for developing urban infrastructure in cities. AMRUT is targeted to rejuvenate 500 cities on PPP model, benefiting 2 crore urban households. While under UPA’s urban renewal mission (JNNURM), Rs. 36000 crore was released against commitment of Rs. 42800 crore, NDA government has committed 98000 crore under AMRUT & Smart Cities Mission.

Progress in Urban Development

The government’s policy emphasis to promote urban transformation has already started paying dividends. Forty seven percent of 11705 urban projects approved during 2015-16 are already under implementation, to be completed by stipulated time period of 2019-20, compared to 39 percent of 3138 projects approved during 2005-2014 period. So much so that today foreign investors are eyeing smart cities for investment. The US & French development agencies have signed pacts to adopt 3 cities each for development as smart cities. Japan has shown interest in creating smart cities while Chinese companies are keen to develop mega industrial townships. The government through these reform initiatives is focusing on improving the quality of human life. And for that purpose, a City Livability Index has been launched for major cities on the basis of quality of life they offer.

Emphasis on Urban Infrastructure

As urban infrastructure holds the key to urban transformation, the government is putting emphasis on boosting urban infra investment. A record allocation of Rs. 3.96 lakh crore was made for infra sector in the union budget for 2017-18. For highways, the budget allocation was hiked from 57676 crore to 64000 crore and budget for rural roads was stepped up to 27000 crore. The policy initiatives on the infrastructure front are clearly showing results. The cost overruns in central sector infrastructure projects came down sharply to 11 percent at the end of FY 17, from 20 percent, 3 years back when Modi government took over, reflecting increased efficiency in project implementation and faster clearances.

Housing for All by 2022

As part of its urban reforms agenda, the government’s mission of ‘Housing for All by 2022’ assumes great significance. The mission focuses on building 3 crore new low cost, affordable homes (including 1 crore rural homes). And to ensure the success of its ambitious programme, the government has taken enabling policy decisions like according infrastructure status to affordable housing, tax incentives for affordable housing to builders and home buyers and credit linked interest subsidy under Pradhan Mantri Awas Yojana (PMAY) to home seekers.

Key Real Estate Reforms

The key reform to set up Real Estate Investment Trusts (REITs), will come handy to fund capital- starved developers. Benami Property Act, aimed at stamping out black money and other measures to weed out cash transactions, are also going to check artificial & speculative spurt in prices and making homes more affordable. The enactment of landmark RERA (Real Estate Regulation Act) is going to boost real estate and housing by bringing in transparency and credibility, protecting the interests of property buyers and making the business regulated and more organised. The biggest tax reform of independent India – GST, will further make real estate transactions more transparent & tax efficient.

Implementation Challenges and Unfinished Agenda

Notwithstanding these path breaking reform initiatives, the immediate challenge before the government is to ensure smooth and effective implementation of these measures while executing its unfinished agenda of reforms like single window clearance, ease of doing business, rental housing, rationalization of land prices and stamp duty among others. Seized of these challenges, the government is making all out efforts to see that the cumulative effect of all its reform initiatives ensures transformational changes on ground, bringing in significant improvement in the quality of life of ordinary people.

About the author

The author is a Delhi based senior journalist. Regularly writes for major dailies on real estate and infrastructural issues.


You may also like:

  • Housing for poor in Budget 2017-18: Game changer budget for real estate & housing
  • Flora and Fauna at Bajaj Premises
  • Enterprise Risk Management: Board Perspectives (Questioning Risk Management): Prof. Colin Coulson-Thomas
  • Budget boost for jobs, skills and collateral-free loans
  • Aluminum is old school, switch to something organic

India CSR offers strategic corporate outreach opportunities to amplify your brand’s CSR, Sustainability, and ESG success stories.

📩 Contact us at: biz@indiacsr.in

Let’s collaborate to amplify your brand’s impact in the CSR and ESG ecosystem.

Tags: 100 Smart Cities MissionHousing Development Finance CorporationHousing for AllHousing Urban Development CorporationNational Housing BankVinod Behl
India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

Related Posts

Sustainability Is No Longer the Pitch, It’s the Project
Articles

Sustainability Is No Longer the Pitch, It’s the Project

2 weeks ago
0
From Scarcity to Sustainability: How Water Harvesting is Transforming Rural Communities
Articles

From Scarcity to Sustainability: How Water Harvesting is Transforming Rural Communities

4 weeks ago
0
Three Responsibilities Foreign Investors Must Embrace in India: A New Era of Accountability
Articles

Three Responsibilities Foreign Investors Must Embrace in India: A New Era of Accountability

2 months ago
0
A Strong Mind and Unwavering Decisions by Women Changed the Dynamics of Child Mortality and Maternal Mortality Ratio in India
Articles

A Strong Mind and Unwavering Decisions by Women Changed the Dynamics of Child Mortality and Maternal Mortality Ratio in India

2 months ago
0
2025 Should Prioritize the Social Sector and Look at More Inclusive Development
Articles

2025 Should Prioritize the Social Sector and Look at More Inclusive Development

2 months ago
0
Harnessing Digital Transformation for Strengthening Internal Marketing and Organizational Synergy 
Articles

Harnessing Digital Transformation for Strengthening Internal Marketing and Organizational Synergy 

2 months ago
0
Closing the Learning Divide: How Edufront is Transforming Schools Through CSR Partnerships
Articles

Closing the Learning Divide: How Edufront is Transforming Schools Through CSR Partnerships

2 months ago
0
Urgent Call for Collaboration on Gender Equality: Vaishali Nigam Sinha
Articles

Urgent Call for Collaboration on Gender Equality: Vaishali Nigam Sinha

2 months ago
0
Empathy in Action: How Companies are Embracing Disability Inclusion
Articles

Empathy in Action: How Companies are Embracing Disability Inclusion

2 months ago
0
Load More
Next Post

India Govt. to procure 10,000 E-Auto and E-Rickshaws

Foundation Stone Laid for Hirakud Township

India CSR Awards India CSR Awards India CSR Awards
ADVERTISEMENT

LATEST NEWS

USAID Dismantled: How CSR Can Fill the Innovation Funding Gap in India

CSR: Nand Ghar, JSI & Rocket Learning Unite to Transform Anganwadis in Rajasthan

CSR: राजस्थान के धौलपुर में आंगनवाड़ी केंद्रों से शुरू हुआ बाल विकास का नया दौर

Morgan Ventures Invests Rs 14.69 Lakhs in CSR Initiatives for FY 2025

SC Closes L&T Plea as MMRDA Cancels Rs 14,000 Cr Mumbai Infra Tender

Vi Q4 Loss at Rs 7,166 Crore, Plans Rs 20,000 Cr Fundraise for 5G Expansion

HZL HZL HZL
ADVERTISEMENT

TOP NEWS

No Content Available
Load More

Advertisement

Image Slider
content writing services Guest Post Top 5 Reasons to have Sponsored Posts at India CSR – India’s Largest CSR Media stem learning R2V2 Technologies Private Limited

Interviews

Driving Sustainable Impact: An Interview with Himanshu Nivsarkar, Kotak Mahindra Bank
Interviews

Driving Sustainable Impact: An Interview with Himanshu Nivsarkar, Kotak Mahindra Bank

by India CSR
May 22, 2025
0

By Rusen Kumar NEW DELHI (India CSR): Himanshu Nivsarkar, Senior Executive Vice President and Head of CSR & ESG at Kotak...

Read moreDetails
Empowering Women Drivers: An Interview with Balamurugan Thevar, CSR Head at Shriram Finance

Empowering Women Drivers: An Interview with Balamurugan Thevar, CSR Head at Shriram Finance

May 20, 2025
0
Empowering Rural Craft Entrepreneurs: An Interview with N E Sridhar, Titan Company

Empowering Rural Craft Entrepreneurs: An Interview with N E Sridhar, Titan Company

May 15, 2025
0
Empowering Young Innovators Across India: An Interview with Geetaj Channana, the Head of Corporate Strategy at Vivo India

Empowering Young Innovators Across India: An Interview with Geetaj Channana, the Head of Corporate Strategy at Vivo India

April 25, 2025
0
Load More
Facebook Twitter Youtube LinkedIn Instagram
India CSR Logo

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium services, we invite you to partner with us.

Follow us on social media:


Dear Valued Reader

India CSR is a free media platform that provides up-to-date information on CSR, Sustainability, ESG, and SDGs. They need reader support to continue delivering honest news. Donations of any amount are appreciated.

Help save India CSR.

Donate Now

donate at indiacsr

  • About India CSR
  • Team
  • India CSR Awards 2025
  • Partnership
  • Guest Posts
  • Services
  • Content Writing Services
  • Business Information
  • Contact
  • Privacy Policy
  • Terms of Use
  • Donate

Copyright © 2024 - India CSR | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers

Copyright © 2024 - India CSR | All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.