HOUSING AND URBAN affairs secretary Srinivas Katikithala on Wednesday stressed on the need to boost availability of land to provide habitation to young mobile population of the country.
Addressing a CII conference on Affordable Housing, he emphasized on the need to move away from housing to habitation as well as from owned assets to sharing and rentals.
The ministry of housing and urban affairs (MoHUA) is deliberating on innovative models of using land to bring down the overall cost of housing. This could include a transition from land ownership to sharing and rentals.
The secretary at the ministry Srinivas Katikithala told FE that land accounts for 60-70% of the overall housing project cost. "If we can change land ownership to some other innovative model, the cost of housing will come down drastically," he said.
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