Why Modi govt's plan to build 10 million houses by 2022 is a tall order

The real estate sector has been in the doldrums due to a sluggish demand for premium properties

Prime Minister Narendra Modi recently reaffirmed his government’s commitment to providing a roof to every urban household by 2022 while interacting with beneficiaries of the Pradhan Mantri Awas Yojana (PMAY) via video conferencing.

However, slow progress in the implementation of the scheme in urban areas hasn’t inspired much confidence, with data showing that the NDA-II government may be struggling to deliver on its tall promise.

What has sparked scepticism is the fact that in the last year, the Centre has quietly revised the initial target of building 1.8 crore houses for urban areas twice – first to 1.2 crore