Housing for all by 2022 is likely to face a large number of challenges in implementation. However, even if it is only partially implemented, it will offer tremendous opportunities for suppliers of building materials.
The Pradhan Mantri Awas Yojana (PMAY) or Housing for All by 2022, launched on the 25th of June 2015, is a highly ambitious programme. As the name suggests, the programme aims to provide a house to every Indian by 2022, i.e., in the next seven years. More specifically, the scheme will target women (irrespective of their caste), poor people, and those belonging to economically weaker section (EWS), lower income groups (LIG), scheduled tribes (ST) and scheduled castes (SC) in the urban areas of India. Towards this purpose, Housing for All aims to construct more than 2 crore houses across 500 cities by 2022.
Housing for All will be executed through a three-phase implementation plan as follows:
Implementation of the programme is, however, likely to face many hurdles.
Despite these challenges, progress on Housing for All is definitely visible.
The overall target of 2 crore houses under ´Housing for All´ programme seems unlikely to be fulfilled given the challenges. But on the business front, even if only 30 per cent of the target is achieved, the opportunities for suppliers of building materials are tremendous.
This article has been authored by Sa´ad Shaikh, who is a team lead, and Rohit Bhamburkar, who is a senior research analyst at ValueNotes Strategic Intelligence, a firm that specializes in the management of competitive and market intelligence, information and research.