No FDI in housing projects for urban poor: Govt

NEW DELHI: The government on Thursday said foreign direct investment ( FDI) will not be allowed in housing projects for urban poor.

"There is no question of allowing FDI in housing for the poor," Minister of State for Urban Development Saugata Roy told Rajya Sabha today.

Foreign investment has been allowed in housing but not for those being built for urban poor and slum dwellers, he said during Question Hour. "We do not expect FDI to come in house for slum dwellers," he said.

Government had announced building affordable housing for poor but no private sector firm has come forward, he said.

He said Finance Ministry has not agreed to reserve one per cent of loans for housing for poor.

The National Urban Housing and Habitat Policy 2007 seeks to promote sustainable development of habitat in the country with a view to ensuring equitable supply of land, shelter and services at affordable prices to all sectors of urban society.