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Precast, prefabrication can help construct houses in lesser time and at lower cost

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Paul Wallett

Shelter is a basic human need, and yet India’s cities are unable to provide shelter to a growing number of residents. According to the 2011 Census, India’s urban population was 377 million—a 4% increase in just 10 years. As a result, cities have grappled with problems including increase in real estate prices and huge stress on resources like land, water, sanitation and healthcare. A 2011 study found there is a shortage of 18.8 million homes. In response, the Centre has set an ambitious target to provide ‘Housing for All’ by 2022. The Pradhan Mantri Awas Yojana (PMAY) has expanded its wings to fulfil housing needs of the mid-income group, besides economically weaker sections and low-income group.

But several factors are hindering PMAY from achieving its potential. Experts have observed that one of the reasons for the slow progress in construction of new houses under PMAY is that very few large and organised real estate players are participating........

© The Financial Express