Lenders should focus on EWS, housing bubble can burst any time, says Maken
As per the latest figure, he said, the number of vacant houses in the country were rapidly rising and already accounted for 11% of the total housing units in developed areas where middle and upper middle class people live. This is like a bubble which can burst any time.
"We have a situation where on one hand we have 11% vacant houses and on the other hand we have shortage of 18.5 million houses. Vacant houses are a bubble that can burst at any time," Maken said.
"Quality planning is of course one of the reasons, tenancy law the other. But I think, one of the more important reasons is perhaps the easy loans which are available for the middle and upper middle class families which are not available for the poor people," he said.
As per the 2001 census, 3.38 million houses were in Delhi, he said while launching 'Credit Risk Guarantee Fund Scheme for Low Income Housing (CRGFSLIH)'.
"Now again next figure is very interesting of this 3.38 million houses, 2.31 million houses were only used for residential purposes, which means one million houses are not used for residential purposes," he said.
"Out of this 0.38 million houses are totally vacant and this also includes 50% of slums and unauthorised colony houses," he said, adding, "so, if you take only
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