Residential Real Estate Industry in Kerala : The Way a Head

Housing is often considered as ‘an engine of growth’ for an economy, particularly the developing economies like India. Because of the vast linkages of housing, both forward and backward, with over 250 other industries promotion of housing enables kick-starting an economy in times of recession. Because of the strategic significance of housing for a developing nation like India, housing has been one of the top priorities for the successive Governments in India. But, only since the late 1970s there has been an organized attempt to promote the institutional mechanism for housing finance in India. The Tenth Plan (2002-2007) sought to promote housing sector in a big way. So did the Eleventh Plan (2007-12)  and the Twelfth Plan (2012-17). This era of Niti Aayog is no exception in this regard.

 

Ever since the National Urban Housing and Habitat Policy (NUHHP) of 2007 ‘Affordable Housing for All’ is a national goal in India. Today, ‘Affordable housing for all by 2022’ is the national goal in India. Given the budgetary constraints of the Government, a ‘multi-stake  holders’ approach is vital to raise financial and other resources. ‘Affordable housing’ and such other models by real estate players is of high significance in the above context, because such projects can mitigate the housing problem of the relatively poor and also ensure a sustainable business model for the respective builders. The present work focuses on real estate industry in India with special reference to Kerala state. With a focus on ‘Affordable housing’ projects of major real estate players in Kerala, the author seeks to develop sustainable models for production and supply of affordable housing

units.