New Delhi: Union Housing and Urban Affairs Minister Manohar Lal Khattar on Saturday said the government would encourage the creation of charitable institutions to fund affordable housing, particularly for the Low-Income Group (LIG) and Economically Weaker Sections (EWS), as banks and financial institutions have shown limited interest in financing housing in this segment.
Speaking at the NAREDCO Conclave 2026, Khattar said funds for such initiatives could be mobilised through Corporate Social Responsibility (CSR) contributions, which could help generate financing for housing projects aimed at poorer sections of society. He added that the ministry is also considering the creation of a dedicated fund to revive stalled housing projects from the pre-RERA period, allowing promoters and homebuyers to reach a mutually beneficial settlement.
The minister also indicated that the government is working on a policy framework to support development in around 700–750 slum settlements in and around the National Capital Territory (NCT). If implemented, the proposal could provide a major boost to affordable housing in the region. On the issue of land availability, Khattar said cheaper land may not be feasible for affordable housing projects, but cross-subsidisation models could be explored if consensus emerges among stakeholders.
During the event, Kuldip Narayan, Joint Secretary in the Ministry of Housing and Urban Affairs, suggested that unused land parcels in city centres with long-vacant buildings could be identified using tools such as Google Maps and repurposed for housing projects. He also said the government is examining the feasibility of rental housing initiatives, after which policy decisions may follow.
NAREDCO Chairman Niranjan Hiranandani said that while the government has taken several steps to prioritise housing in the economy, further policy measures are needed to increase the real estate sector’s contribution by 2047. He also emphasised the need to promote rental housing projects at scale to support people who cannot afford to purchase homes.
At the conclave, NAREDCO President Parveen Jain and Minister Khattar released a knowledge report prepared by KPMG and NAREDCO, outlining a roadmap for the real estate sector aligned with the “Viksit Bharat” vision.
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