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Affordable Housing - Neeraj Gupta - 12-08-2016

“Affordability” as a concept is very generic and could have different meanings for different people based on differences in income levels. 

Affordable housing refers to any housing that meets some form of affordability criterion .


A commonly accepted guideline for affordable housing is that the cost of housing should not be more than 30 percent of a household's gross income. If the monthly carrying costs of a home exceed 30–35 percent of household income, the housing is considered unaffordable for that household.

Affordable housing can be defined using three key parameters viz.
1.       income level,
2.       size of dwelling unit and
3.       Affordability.

 While the first two parameters are independent of each other, the third parameter is correlated to income and property price, and hence can be termed a dependent parameter. While the above definition is a generic representation at an all India level, the actual definition of affordable housing may vary with regions and income levels. Another point to note is that the definition of affordable housing is not just restricted to the three categories mentioned above, but applies to people across the country.

 Defining affordable housing in India for Tier I, II and III cities based on three key parameters: 

   

In Rajasthan affordable housing policy Chief Minister’s Jan Awas Yojana – 2015 is implemented 

 Goals of Chief Minister’s Jan Awas Yojana 2015 :

•             To achieve the objective of Affordable Housing for All through creation of EWS/LIG housing stock to fulfill housing shortage in the State.
•             To attract private investment for construction of houses for EWS/LIG segment of the society, by giving incentives to the private developers.
•             To motivate govt. agencies and private developers to take up construction of Affordable  Housing.
•             To identify land for affordable housing which can be monetized by inviting private participation on a large scale.
•             Processed of construction developers shall be facilitated by fast track approvals.