The country, at present, is facing a shortfall of 6 million housing units and in order to bridge this gap the government needs to provide adequate funding for House Building Finance Corporation (HBFC), Vice chairman, standing committee on housing and construction industry of FPCCI, Saleem Kassim Patel said.
"Regulations stated by commercial banks and financial organisations to buy and construct a house, are virtually impossible for one to meet," he added. He said in order to provide shelter to the people of low- and middle-income group the government should chalk out plan on concrete grounds.
"Without adequate structural support provided to HBFC from the government the lower and middle-income groups would always invariably worry about housing", he maintained. He said the purpose of forming HBFC was to help these groups, so that they could easily claim ownership to their respective residences.
He said there would be greater need for housing units for low-income people during the next 2 years. He asked the government to take steps for improving the existing infrastructure and also provide new infrastructure for upcoming schemes in major cities of the country.