Government plans policy to promote rental housing in urban areas

NEW DELHI: Government has planned a national policy to promote rental housing in urban areas in view of the large migration of population from rural areas to cities, and its draft has been circulated to states, Rajya Sabha was told today.

"A draft National Urban Rental Housing Policy (NURHP) has been prepared keeping in consideration various suggestions received from different stakeholders."

"The draft policy outlines certain recommendatory incentives, both financial and non-financial to promote rental housing," Housing and Urban Poverty Minister M Venkaiah Naidu said in reply to a question Rajya Sabha.

He said that the draft policy has been shared with the states and other stakeholders, and consultations are going on for finalizing the same.

The minister also made it clear that the NURHP is not a central Act or a Bill and it is only a Model Policy. "It is up to state governments to adopt and implement the policy, with changes that are locally suitable," the reply said.

A few days ago Naidu had said that a policy would soon be unveiled to promote rental housing as a viable option.

Despite a housing shortage of approximately 19 million units, about 11.09 million houses are vacant in urban areas as per 2011 census data.

Speaking at the regional workshop on Rental Housing Policy and National Housing and Habitat Policy, Naidu had said, "If these vacant houses are made available for rental housing, then some, if not most of the urban housing shortage, could be addressed. We are trying to introduce a formal rental housing programme which may absorb the 11.09 million completed houses lying vacant."