Enabling Real Estate Development: The Role of Housing Boards on a National & Global Scale

Abstract

India, recognizing housing as a fundamental necessity, has grappled with deteriorating urban housing conditions driven by factors like rural-to-urban migration and rising construction costs. To address this challenge, the government initiated social housing programs during its third five-year plan, establishing housing boards and city development agencies at central and state levels. These entities aim to provide affordable housing solutions, slum rehabilitation, and urban renewal. Central and state housing boards collaborate to make housing accessible to those with limited resources. The paper presents case studies from states like West Bengal, Madhya Pradesh, Chandigarh, and Gujarat, highlighting diverse strategies, including public-private partnerships, to address housing needs for various income groups. These partnerships aim to bridge the housing gap and promote urban development. However, challenges persist, particularly in achieving affordability and efficient delivery of housing. Singapore's Housing Development Board (HDB) model offers insights into the transformative potential of public housing in shaping the real estate landscape. Foreign investment and proactive improvements are crucial for India to replicate Singapore's success and ensure quality housing for all citizens. Key Words: Housing boards, affordable housing, Public- private partnerships, Urbanization