Question : USES FOR RENTALS

(a) whether the Union Government has decided to set up a High Level Committee to recommend policy interventions to facilitate creation of rental housing stocks to cater to those who cannot afford to buy houses;

(b) if so, the details thereof along with the composition of the proposed high level Committee;

(c) whether the cost of housing in cities and towns have become unaffordable for the common man;

(d) if so, whether the proposal of the Government to build houses for rentals would be made available at affordable rates; and

(e) if so, the details thereof?

THE MINISTER OF HOUSING & URBAN POVERTY ALLEVIATION(KUMARI SELJA)

(a) & (b): Yes, the Ministry of Housing & Urban Poverty Alleviation has set up a “Task Force on Rental Housing” under the Chairmanship of Shri Jaithirth Rao, Chairman of Value and Budget Housing Corporation Private Limited to recommend policy interventions to facilitate creation of rental housing stocks to cater to those who cannot afford to buy houses.

Composition of the Task Force is annexed.

(c): Cost of housing in cities and towns are market driven and are based on demand and supply factors. National Housing Bank (NHB) RESIDEX which tracks the movement of residential prices in select cities, indicates that average increase in the cost of houses during 2008 to 2012 was 12.26% per annum.

(d) & (e):Under the scheme of Rajiv Awas Yojana (RAY), there is a provision inter-alia of 50% Central assistance (90% for North Eastern and Speical Category States including the cost of land acquisition, if required) for creation of affordable housing stock including rental housing and transit housing. ‘Land’ and ‘Colonisation’ being State subjects, it is for the States to utilize the above provisions of RAY for creation of rental housing stock and making it available to target group at affordable rates.