At a high-profile international summit in New Delhi’s Bharat Mandapam, Union Housing and Urban Affairs Minister Manohar Lal laid out a bold roadmap for transforming home finance in India. His message was clear: collective action among all stakeholders is essential to render housing finance more reachable, cost-effective, and inclusive for the masses.
The minister delved into the imperatives of holistic urban planning, integrating housing with efficient transport systems. He pushed for innovative policies that anticipate future needs, including a data-driven National Housing Exchange. This system would match home seekers with properties near job locations, facilitating seamless exchanges to cut down travel burdens.
Citing findings from a NITI Aayog-Home Ministry joint report, Manohar Lal painted a picture of explosive urban growth—from 500 million urban dwellers in 2021 to over 850 million by mid-century. Such trends demand an urgent ramp-up in affordable housing supply, he asserted.
Emphasizing proactive measures, he championed the Transit-Oriented Development (TOD) framework to build resilient city infrastructures. Housing must become more attainable and eco-friendly through these models. Financial institutions, including banks, NBFCs, and NHB, were exhorted to boost lending and housing stock nationwide.
Wrapping up, the minister echoed PM Modi’s pledge: a pucca house for every deserving Indian. The event drew luminaries from Indian government, international organizations, foreign institutes, PE firms, and HFCs, fostering exchanges that reinforce India’s resolve on urban housing frontiers.