New Delhi sources have stated that previously Prime Minister Narendra Modi set a target in 2015 of building 50 million homes in less than a decade, or about seven million a year. The nation has since added only 180,877 under the scheme, underscoring the challenge in achieving that target.
Meanwhile Rajesh Krishnan, chief executive officer at Brick Eagle, a Mumbai-based private equity fund that provides project financing to affordable housing developers that "it was a moon shot". According Modi's housing program is a necessity in a nation where about 65 million people, or the population of the U.K., live in make-shift structures in cities such as Mumbai, which is home to Asia's second largest slum.
Moreover an added benefit is that it promises to stoke employment and unleash investments, estimated at as much as $1.3 trillion over seven years, as the government plans a re-election bid in 2019. Sources have stated that housing for all plan homes to be constructed by 2022 houses completed so far Urban 20 million houses 102,676 Rural 30 million houses 78,201 Total 50 million houses 180,877.
