The Centre will soon launch a Credit Gurantee Fund to ease the access of home loans to the lower income groups. According to an official release, the fund will be provided under the Rajiv Awas Yojana.

It will be used as guarantee to lending agencies for small housing loans to the Economically Weaker Section and Lower Income groups of society. The release stated that the Government is also working on a legislation to establish a regulatory oversight mechanism to enforce disclosure, fair practices and hence improve governance and transparency in the real estate sector.

With an aim to improve affordable housing, the Housing and Urban Poverty Alleviation Ministry is working on involving the private sector in creation of affordable housing stock in the country.

Streamlining of approval processes, encouragement of Public Private Partnerships and use of new construction technology in housing, are some of the important issues that are being addressed on a priority basis by the Ministry.