Manohar Lal, Minister of Housing & Urban Affairs, Government of India announced that the Centre, in consultation with States, will evolve a mechanism to ensure land prices for affordable housing projects are kept relatively lower than for other housing segments, particularly under the Prime Minister Awas Yojana (PMAY).
Manohar Lal addressing the developers announced his intent to convene a meeting of State housing ministers and senior policymakers to push for consensus on affordable land pricing. While he did not indicate a timeline, he confirmed that such discussions would be accompanied by broader reforms to accelerate housing activity nationwide
The Minister, also noted that additional policy reforms required to spur housing activities across the country would be initiated with relevant stakeholders at both central and state levels. He informed real estate developers also that once relaxed land prices are introduced, developers must ensure that affordable housing units are constructed at suitable sites. Choosing substandard locations, he cautioned, could dilute the credibility of the real estate sector.
The Minister added, “States implementing best practices in housing should serve as role models, with a mechanism developed to replicate these practices across the country for holistic real estate growth.”
On the subject of metro expansion, the Minister informed that in the next 4–5 years, India’s metro rail network is expected to expand to nearly 1,500 km, up from the current 1,036 km. He stressed the government’s focus on ensuring last-mile connectivity so that passengers can travel seamlessly and without inconvenience.
