Rental housing: The future of real estate in India
Rental housing has always been an integral part of urban housing response across the world. In India, about 31% of the urban population resides in Rental housing, however despite this the policy and legal framework for rental housing is underdeveloped, as all Government interventions were traditionally more focused towards home ownership rather than rental housing. Large scale migration during COVID-19 crisis has brought into sharp focus the dire living condition of millions of migrant labors and their lack of decent housing. Recognizing this, Government of India launched the Affordable Rental Housing Complexes (ARHCs) scheme aiming to provide access to affordable rental housing to urban migrants/poor. The objective of the webinar was to discuss the existing Rental Housing scenarios and development opportunities across the country as well as the measures that need to be taken for ease in cashflows for developers in rental housing projects. The panel also discussed the interventions needed at various stakeholder levels including the Government, Real Estate Associations, consumers etc.