Current Parameters to Promote Successful Deliverance of Affordable Housing

Abstract

The paper discusses about the problem of Affordable housing that many countries are taking stock of, world over. This paper sets out the definitions of affordable housing in India; the issues with the various definitions of affordable housing; the institutions and agencies responsible for formulating and implementing affordable housing policies in the state; the opportunities and challenges in affordable housing. The paper discusses about the challenge faced by people who buy homes are when to make investment in property. At times when suitable economic conditions result in a rise in incomes the real estate prices equivalently rise making it difficult for buyers to purchase homes despite having a higher income. Moreover when the economy deteriorates incomes fall and so do real estate prices, hence people become more skeptical about their income and therefore they make purchases cautiously. Affordable housing can be a beneficial scheme to this dilemma of housing and can provide housing to all sections of society.