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Urban Rental Policy Urban Rental Policy

Draft National Urban Rental Housing Policy (2015)

Urban housing shortage in India, estimated to be 18.78 million during the 12th Plan period with consequent increases resulting in increase in urbanization in future years, is an area of concern. Historically housing policy/programmatic interventions have been oriented towards home ownership, nevertheless, providing housing to all on ownership basis has proved challenging. Growing family needs had resulted in overcrowding and slum like situations due to lack of alternatives such as rental housing and absence of rental housing frameworks in the Country.  In order to address these issues, the Ministry of Housing and Urban Poverty Alleviation has come up with the Draft National Urban Rental Housing Policy (NURHP), 2015. The vision of the Draft Policy is ‘to create a vibrant, sustainable and inclusive rental housing market in India’.

The Draft National Rental Housing Policy is aimed at promoting rental housing as an option for:

  • The destitute, homeless & disabled people. 
  • Social Rental Housing for the socially and economically weaker (EWS/LIG) sections.
  • Affordable Rental Housing for specific target groups such as migrant labours, working women, students etc.
  • Rental Housing as a stop gap towards aspirant home buyers.
  • Institutional rental housing for working class

 The policy will enable:

  • Formalization of Rental Housing through regulatory and legal frameworks
  • Enhance fund flows along with incentives for rental housing
  • Promote institutions/organisations for constructing, managing, maintenance and operations of rental housing stock – RMCs, Residential REITs, and Employee Housing etc.