Business News | Funding to Be Considered Through Charitable Institutions for Affordable Housing: Manohar Lal Khattar
Get latest articles and stories on Business at LatestLY. Addressing the NAREDCO Conclave 2026 on its second day here, Khattar on Saturday indicated that a dedicated fund could be set up to finance stalled housing projects from the pre-RERA period, in line with broader industry suggestions, so that both their promoters and buyers can reach a win-win settlement.
New Delhi [India], February 15 (ANI): Union Housing and Urban Affairs Minister Manohar Lal Khattar said that his ministry will encourage a proposal to set up charitable institutions to fund housing, particularly in the affordable segment, since banks and other such entities do not come forward to fund housing units in the affordable sector.
Addressing the NAREDCO Conclave 2026 on its second day here, Khattar on Saturday indicated that a dedicated fund could be set up to finance stalled housing projects from the pre-RERA period, in line with broader industry suggestions, so that both their promoters and buyers can reach a win-win settlement.
The Union Minister also indicated that the government would work towards development for nearly 700-750 slum settlements in and around the NCT, for which a policy framework is being deliberated by various stakeholders across government authorities at a high level.
With the take-off of this proposal, affordable housing would receive a much-needed boost in and around the NCT.
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Elaborating on the issue of establishing charitable institutions to fund affordable housing in LIG and EWS segments, according to a National Real Estate Development Council (NAREDCO) statement, Khattar pointed out that money could be organised through CSR contributions in such proposed charitable institutions to generate funds for poorer sections of the society, since banking and financial institutions are barely proactive in supporting this section.
NAREDCO suggested increasing the SWAMIH fund size to support stalled housing projects.
Khattar is also reported to have said that a fund could be set up to support housing projects approved before RERA, with the size of the fund to be decided after discussion. In this context, it was suggested that the government may consider establishing a dedicated fund to arrange financing for reviving stalled housing projects.
On the issue of cheaper land for affordable housing, the Union Minister suggested that cheaper land could not be made available for this section of housing. What could be done to encourage the availability of land for such projects is through cross-subsidisation, provided a consensus emerges on the issue.
Earlier, speaking on the occasion, Kuldip Narayan, Joint Secretary, Ministry of Housing and Urban Affairs, Government of India, stated that housing projects can come up at the centre of major cities, where land parcels on which empty buildings are raised and are of no use for decades.
Such a land could be identified through Google maps and brought to use for the stated purpose, said the Joint Secretary, adding that on rental housing, the government is working on it as soon as a detailed feasibility done on this, a thinking will emerge on the issue.
Niranjan Hiranandani, Chairman, NAREDCO, said that a great deal of efforts have been made by the government to ensure housing attains a priority in the Indian economy, but a lot more needs to be done so that the contribution of the housing sector increases by 2047.
He also advised that policy decisions should be made sooner than anticipated to ensure that rental housing projects are encouraged in India on the lines of economies of scale, as this would suit those who cannot afford to buy their own house.
President, NAREDCO, Parveen Jain and Khattar released a KPMG and NAREDCO made Knowledge Report on the occasion, in which a detailed road map has been laid out for the real estate sector for "Viksit Bharat". (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)