NHB inclined to fund low-cost houses

The National Housing Bank (NHB) has shown interest in funding low-cost housing projects in West Bengal, state Minister for Urban Development and Municipal Affairs Firhad Hakim said on Wednesday.

"They (NHB) had a meeting with me. They are interested in funding low-cost housing in West Bengal," Hakim told reporters on the sidelines of the FICCI sponsored 'Housing Conclave' here.

"We have discussed some of the areas of low-cost housing especially mass housing and we'll work together," he said. It was important to construct high-rise buildings, but for inclusive growth, such low-cost projects were equally necessary, he said. NHB Chairman and Managing Director R V Verma said the bank would fully support the state government's initiative in building affordable homes.

According to a government report, in the next five year plan period (2012-2017) the urban housing shortage will be around 18.78 million units in the country.

The highest urban housing shortage is in the states of Uttar Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Tamil Nadu, Bihar and Rajasthan, the report said.