After recognising a massive gap of housing in India, the Union Government had announced 'Housing for All' by 2022 in July 2015 to achieve the staggering target of bridging a gap of more 1.9 crore houses. 96 per cent out of these are required for the lower income groups (LIG) and economically weaker sections (EWS) groups.
In India, while the population is growing at more than 2.1 per cent every year and may touch 1.51 billion by 2030, growth in housing has been unable to keep the same pace. The Central and States governments are now contemplating many ways and means to provide access to housing for all. Affordable housing will not only fill the housing gap but be the next major economic growth driver by creating more than 2 million jobs during the period till 2022.
To fill the massive gap of affordable housing in India, the government has come up with a spate of many initiatives: