Government urban rental policy to come up before the Cabinet: Venkaiah Naidu

NEW DELHI: A policy on urban rental housing will soon come up before the Union Cabinet for approval, Housing and Urban Poverty Alleviation Minister M Venkaiah Naidu said today.

The policy aims at meeting the growing housing needs of migrants, students, single working women and others, he said.

"We have formulated a National Urban Rental Housing Policy 2017 which will come up soon before the Union Cabinet for approval. The consultation process is over and the draft is ready," Naidu told a press conference here.

The policy assumes significance as 30 per cent of the urban population lives in rental accommodation and one third of urbanisation is driven by migration.

On the other side, according to the 2011 census, over 11 million houses were lying vacant.

"We are keen on promoting a rental housing stock through social rental housing with government support and market- driven rental housing without direct government support," Naidu said, without elaborating any further.

The Minister said the policy would also supplement the Centre's 'Housing for All' by 2022 mission.