Bridging the gap between housing demand and supply through different modes of supply

Abstract

Houses are the basic human necessity. It has been one of the priorities of Government of India right from the First Five Year Plan till date. Government has provided various fiscal incentives to promote housing. Since independence, a large number of schemes have been launched for lower income group and economically weaker population, but the target of housing for these categories has not been achieved. Given the surge of urbanisation, providing affordable housing appears to be daunting task in Gurgaon city. Gurgaon having a population of around 10,42,253 (census 2011) is the fastest growing and the second most populated city in the state of Haryana and is situated in the south eastern part of the state. The city is located on the border of national capital Delhi to its north east. The city has a total area of 738.8 square kilometres. The present study begins with the identification of present scenario of affordable housing in Gurgaon city from three perspectives: developers, government and the beneficiaries. Upon the identification of present scenario, the present study estimates the housing demand for all segments of the population. Demand by different segments is calculated thereafter for 2021 following housing need assessment model. Identification of affordability of households for buying new housing unit is done by using different methods. Identification of effective demand is carried out for affordable housing by using the primary survey data and the result of housing need assessment previously worked out from 2012 to 2021 From the analysis it is found that affordable housing for EWS category is a major issue and there is no such project in Gurgaon city presently which could cater to the demand from this category. Based on this analysis, proposals have been formulated in the form of rental housing and incentivised housing project to minimize the gap between demand for and supply of affordable housing for 2021.