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Modi's Fifty Million Homes Moonshot Looks Set to Miss Its Mark | Tony Seruga
Jul
24

Modi’s Fifty Million Homes Moonshot Looks Set to Miss Its Mark

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  • About 65 million people live in slums in India’s urban areas
  • Land prices, difficulty getting approvals hurt supply

India’s ambitious ‘Housing for All’ plan is bumping up against some harsh realities.

Prime Minister Narendra Modi set a target in 2015 of building 50 million homes in less than a decade, or about seven million a year. The nation has since added only 180,877 under the scheme, underscoring the challenge in achieving that target.

“It was a moon shot,” said Rajesh Krishnan, chief executive officer at Brick Eagle, a Mumbai-based private equity fund that provides project financing to affordable housing developers…

Modi’s Fifty Million Homes Moonshot Looks Set to Miss Its Mark

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