Deepak Parekh proposes agenda for affordable housing

There cannot be "no action" from the government on housing and this stern message has come from HDFC chairman Deepak Parekh. Parekh has suggested a five-point agenda for the government to implement affordable housing projects more efficiently, reports CNBC-TV18.

First, he wants a single ministry to deal with urbanisation and housing. This would mean a merger of the ministry of urban development with the ministry of housing and urban poverty alleviation. Second, he calls for streamlining all existing government housing finance programs. Third, a special 'settlement commission' for cases under the Urban Land Ceiling & Regulation Act. Even a decade after the act has been repealed several properties still locked in litigation under this act. The fourth point that Parekh makes is that incentives are needed for affordable housing projects. And finally he calls for compulsory implementation of e-auctions for land transactions. NHB says housing demand hit due to high prices, rates