Is ministry of cooperation by Government of India all set to implement one nation one housing policy and start housing revolution. Like we saw in Agriculture, Dairy and Sugar Cooperative societies, Housing Cooperative societies will penetrate up to every ration shop registration and postal code and street wise and create an orderly housing available to all households from Ladak to Indira point. The basic Principle is Same with respect to Interest Rate, Loan, EMI, Cost, and entry level shelter prices for the first shelter seekers and for eradication of Slums Chawls and thirty-three year plus old structures. Sustainable Development Goals United Nations Vision 2030 goal subsistence and social distance factored and all parameters of affordable housing as per United Nations special rapporteur report will be followed, we expect 7000 cooperative housing societies in each 543 parliamentary constituency and 35 Crore house less will get shelter. Shelter is a right and not a commodity. About 42000 Crore square feet basic FSI distributed and at Rs. 2500 per square feet at cost of construction is $ 15 trillion. real wealth creation and assures housing for all and RERA and RBI will manage as coupons at 10,20,30 lacs for 25 years EMI for 450, 900, 1350 square feet shelter as per Tamil Nadu government affordable housing policy GO No 61 of 2020 as vouchers. If our thinking is right, harmonised master list of govt and unified housing authorities we expect similarly land compensation bonds. Limited purpose construction bank, national property registration portal and weekly construction and payment of wages & Materials settlements (No work No Pay, No Pay No Work) first and second mortgage banks to absorb the asset under construction backed by long term housing loans by banks. This is concept is linked to RBI open market operations for short term, medium term, and long-term bond market. Every month RBI, RERA will give detail before monetary policy review committee for success full infusion of flow of funds.
Readers are requested to refer to our earlier article affordable housing for homeless house less marginal titled ever rent paying and first shelter seeking households through distribution of basic floor space index published during June 2018 in tax guru. Landed gets FSI what does a landless get? How a household without land & house and an ancestral property, ever rent paying one or two earning members with one to seven dependents’ get shelter. Few lacs subsidies are a huge monetary burden and real affordable housing is only by paying twenty percent of wages as EMI is the correct approach. There is conflict between wages and rent. And should one pay huge portion of wages for rent similarly Thirty percent to ninety percent in housing cannot be for land. India has only 2.18 percent land share and 18 percent population globally of 46 Crores ration card holders of which 35 Crores households do not have proper shelter. With 80 lac circle rates and different terrains having different FSI from half 1,2,3, premium FSI and transfer development rights in 32 states comprising 5000 tier 1, 2, 3 cities and 6,00,000 villages have different rules on DTCP, Land Usage, Zones, Building Permissions, and layouts. Under these scenarios How to evolve one nation one housing policy, correct measure of housing is distribution of basic FSI. We suggest 150 square feet of basic FSI as fundamental birth right at cost of construction basis and 50 square feet land divided or undivided share depending upon soil test. Volume One Chapter 10 of economic survey talks about basic needs. All 30 odd parameters of affordable housing as per the United Nations guidelines is well bundled in our approach.
Let August 15, 2021, let us kick start housing revolution. Jai hind
Article presented by R. Narasimhan, K.R.Prakash & S Sriram