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The Union government highlighted the urgent need for coordinated urban planning and expanded housing finance to meet growing housing demand in India. Housing and Urban Affairs Minister Manohar Lal stressed collaboration between policymakers, banks, housing finance companies, and the National Housing Bank to ensure accessible and inclusive credit. Innovative solutions like a national housing exchange and transit-oriented development were proposed to connect housing with workplaces and public transport. These initiatives aim to address both the rising urban population and the shortage of affordable housing across cities.
Union Housing and Urban Affairs Minister Manohar Lal emphasised coordinated action between policymakers, financial institutions, and urban planners to strengthen urban planning and make housing finance more accessible. He noted that India's urban population has grown significantly in recent years and is projected to increase further, driving a sharp rise in demand for affordable housing. Advertisement
Speaking at a conference organised by the National Housing Bank and the Asia Pacific Union for Housing Finance, he highlighted the importance of integrated planning that aligns housing with transport infrastructure and future policy needs. Citing a joint study by NITI Aayog and the ministry of housing, he noted that India's urban population, estimated at around 500 million in 2021, could exceed 850 million by 2050, which will require corresponding expansion in infrastructure and housing finance.
The minister suggested establishing a national housing exchange backed by detailed housing data to help citizens locate homes closer to workplaces and enable property exchanges to reduce commute times. He also stressed the role of transit-oriented development models to make cities more sustainable and connected, linking residential growth with public transport systems.
Manohar Lal urged banks, housing finance companies, and the National Housing Bank to strengthen collaboration to expand credit availability and support housing supply nationwide. He underlined that these measures are crucial to managing urbanisation challenges, improving affordability, and ensuring cities remain livable as population and housing needs grow.
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