Govt readies model to use PSU surplus land for affordable housing projects

The government is chalking out a model to utilise surplus land parcels lying with central and state public sector units (PSUs) for development of affordable housing projects.

Addressing National Real Estate Development Council's (NAREDCO's) realty conference, Housing and Urban Affairs Secretary Durga Shankar Mishra said the government has set a target of Housing for All by 2022 and taken many steps to boost housing supply, including interest subsidy.

"We are trying to bring a model for how to use surplus and unutilised land parcels of central public sector units (CPSUs) for affordable housing," Mishra said.

"We are also talking to states for leveraging the land parcels of their PSUs," he said, adding that there is shortage of 1.2 crore homes in the country, largely in LIG (low-income group)/EWS (economically weaker section) segments.

Earlier, NAREDCO Chairman Rajeev Talwar had suggested that the government should make available PSU land for affordable housing projects, which have gained traction after infra status and interest subvention.

Mishra spoke about the need for slum redevelopment and cited the successful model of Maharashtra. He stressed on the need to adopt modern technologies to reduce construction timeline of realty projects.

Mishra also announced that the government will provide online building permission facility by the end of this fiscal.