The central government on 21 September 2017 announced new public private partnerships (PPP) to promote private investments in affordable housing in line with its Housing for All target by 2022. the Real Estate and Infrastructure Investors Summit 2017, organized by real estate body National Real Estate Development Council (NAREDCO), minister of housing and urban affairs Hardeep Singh introduced eight PPP options for the private sector to invest in affordable housing segment.
The policy seeks to assign risks among the government, developers and financial institutions, to those who can manage them best, besides leveraging under-utilized and utilized private and public lands. Under the second option, central assistance of Rs1.50 lakh per each house to be built on private lands would be provided, in case the beneficiaries do not intend to take bank loan.
The other six options include promoting affordable housing with private investments using government land. A few of the models include allocating government land to private firms based on the least cost of construction. Beneficiaries will be identified as per the norms of PMAY (Urban). An online mechanism for time-bound approvals for building plans and construction permits has already been introduced in Mumbai and Delhi.