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Friday 3 April 2020

Modi govt to identify, using technology, best real estate companies that can address housing shortage

Union Housing and Urban Affairs (HUA) Minister Hardeep Singh Puri will launch the initiative under the Pradhan Mantri Awas Yojana-Urban (PMAY-U), Ministry Secretary Durga Shanker Mishra said

Editorials

In India

New Delhi: To address the issues related to the housing shortage in a time-bound manner, the Centre will launch the ‘Global Housing Technology Challenge’ here on Monday, officials said.

Union Housing and Urban Affairs (HUA) Minister Hardeep Singh Puri will launch the initiative under the Pradhan Mantri Awas Yojana-Urban (PMAY-U), Ministry Secretary Durga Shanker Mishra said.

“Global Housing Technology Challenge-India will enable a paradigm shift in the country’s construction sector,” Mishra tweeted.

“It will address issues related to the housing shortage in a time-bound manner & focus on the need for emerging, cost effective & speedy construction technologies,” he said. 

The PMAY (U), launched by Prime Minister Narendra Modi in June 2015, aims to ensure “Housing for all by 2022” by providing financial assistance to the beneficiaries. 

Around 68.5 lakh houses have been approved so far for construction under the PMAY (U).

The Government of India launched the Pradhan Mantri Awas Yojana in June 2015. This is one of the largest public housing programs in the world, with the goal of providing affordable and quality houses to over 12 million families by 2022, the 75th anniversary of the country’s Independence. To achieve this target over the next five years, the country will need to deploy innovative designs, efficient technologies and delivery mechanisms at an unprecedented scale – requiring disruption of ‘business as usual’ and the embrace of the new.

The Global Housing Technology Challenge – India is an initiative of the Ministry of Housing & Urban Affairs, Government of India which seeks to identify cost-effective and speedy construction technologies. These technologies with the capability to provide the maximum number of houses in minimum time and cost would be mainstreamed into the local construction industry and piloted across different climatic conditions of the country.

The Ministry is in the final stages of devising this unique competition that would invite proposals from both innovators with proven and tested technologies as well as newly incubated solutions.

Winners would be selected on the basis of a range of criteria, including performance metrics, compliance with standards (Indian or international) and user experience.

The shortlisted proven technologies would be provided with the opportunity to execute pilot projects at pre-selected sites in different locations in the country and will receive wide publicity and exposure through an Exhibition cum Expo.

These technologies would also be incorporated into the official codes of the Government of India with support from the Building Materials and Technologies Promotion Council, the Government of India’s official arm for promoting innovation in building construction.

Subsequent to the official launch of the Global Housing Technology Challenge – India, the Ministry of Housing & Urban Affairs would invite the participation of consortia comprising promoters & developers, construction companies, housing boards, research organizations as well as cutting-edge innovators and early-stage entrepreneurs, to submit proposals in a prescribed format for consideration by a reputed Jury.
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