As the India''s real estate sector struggling with the depressed demand due to the global recession and high cost of borrowing, industry body Assocham has suggested that the government and realty players should jointly undertake the projects of low cost houses of 47.43 million by 2012 in rural areas.
The chamber said the government has constructed 171 lakh houses with an expenditure of Rs 1,89,898.56 crore. However, the desired results under the scheme have not been fully achieved due to various issues like the land availability as well as clearances by the forest department, delay in release of funds and lack of basic amenities in the constructed houses, it said.
According to the Assocham President Sajjan Jindal, there is huge demand for low-cost houses in rural areas that needs to be fulfilled and recommended that the Indira Awaas Yojana Scheme, (IAY) under the umbrella of ''Bharta Nirman'' programme, should be restructured.
He also added that there is a strong case for private sector participation to bring in right technology for such types of houses and ensure fast completion of the projects.
The chamber said the government has constructed 171 lakh houses with an expenditure of Rs 1,89,898.56 crore. However, the desired results under the scheme have not been fully achieved due to various issues like the land availability as well as clearances by the forest department, delay in release of funds and lack of basic amenities in the constructed houses, it said.
According to the Assocham President Sajjan Jindal, there is huge demand for low-cost houses in rural areas that needs to be fulfilled and recommended that the Indira Awaas Yojana Scheme, (IAY) under the umbrella of ''Bharta Nirman'' programme, should be restructured.
He also added that there is a strong case for private sector participation to bring in right technology for such types of houses and ensure fast completion of the projects.
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