Govt to unveil urban rental housing policy soon: Reports

21/04/2017 10:33

The Indian Government has said that a policy on urban rental housing will soon come up before the Union Cabinet for approval.

Commenting on the issue, Housing and Urban Poverty Alleviation Minister M Venkaiah Naidu told the media, “The policy aims at meeting the growing housing needs of migrants, students, single working women and others.”

"We have formulated a National Urban Rental Housing Policy 2017 which will come up soon before the Union Cabinet for approval. The consultation process is over and the draft is ready. We are keen on promoting a rental housing stock through social rental housing with government support and market- driven rental housing without direct government support," Naidu said, without elaborating any further,” he added.

As per reports, the policy assumes significance as 30 per cent of the urban population lives in rental accommodation and one third of urbanisation is driven by migration.