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Lack of affordable housing forces poor into death traps - Economic Times

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Lack of affordable housing forces poor into death traps - Economic Times   Lack of affordable housing forces poor into death traps - Mumbai - India MUMBAI: Aslamkhan Bhikankha sold his wife's jewellery and used all his savings to buy a flat in a Mumbai suburb which he now fears will soon be razed, leaving his family homeless. The flat is in one of numerous illegal buildings in Mumbra that house poor migrant workers and face demolition by authorities over safety concerns after the collapse last week of a 7-storey block nearby in which 74 people died. Tags: Tata Sons | savings | real estate | Mumbra disaster | low-cost homes | knight frank | invest | interest rates | illegal construction | illegal building | High interest rates | Frank | expensive land | economy | collapsed apartment | affordable housing Sad how the poor are exploited for a buck!!! Here is a photo of how moladi Builds quality certified structures Quality Engineer Certified Structure...

low-cost homes INDIA

Plan for 5 lakh low-cost homes still to take off - Hindustan Times -India Low-cost homes 5 lakh plan - India - not a single unit has been constructed The ambitious plan to provide five lakh affordable houses in the city and its vicinity has gone kaput with the officials of the Maharashtra Chambers of Housing Industry (MCHI) and state government accusing each other of non-cooperation. Mooted eight months ago, the plan was to provide five lakh affordable dwellings, ranging from 160 sq ft to 600 sq ft, in Mumbai, Thane, Navi Mumbai and Raigad over five years, but till date not a single unit has been constructed. While the builders are blaming the government, the state officials claim the former were not interested in providing cheap houses. “Nothing has happened so far. The scheme depends on the will of the ministers of the state government,” said Pravin Doshi, former MCHI president, who had come up with the scheme. Doshi was the signatory to the memorandum of understanding (MoU) w...

Tata Housing - Who'll finance 'affordable' housing in India?

Tata Housing - Who'll finance 'affordable' housing in India? Brotin Banerjee is happy. He has been able to sell a fourth of the 1,500 apartments of his affordable housing project in Boisar, about 100 km from Mumbai, to people who he describes as belonging to the “informal sector”. These are buyers, the managing director of Tata Housing explains, who don’t have a bank account and, therefore, wouldn’t qualify for a bank loan. But thanks to Micro Housing Finance Corporation (MHFC), a microfinance company, they can now hope to own a house. Tata Housing’s efforts at helping less privileged sections of society are commendable, but after a point it won’t be able to do much for the simple reason that there aren’t going to be enough lenders to give loans to these prospective home buyers. So, the shortage of homes in the “economically weaker segments and low-income groups” — estimated by Ernst and Young at some 26 million by 2012 — could be even bigger. Banks are doing their bit but ...

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