Introduction:

‘Affordable Housing’ has become a common term within policy circles ranging from ‘Housing for All by 2022’; within banking and finance as priority sector lending; in descriptions of an emerging and untapped housing market; as well as within civil society activism around housing rights. Yet, little clarity exists on what ‘affordable’ housing for urban India really is and how it should feature as an object of public policy.

This section begins with suggesting one set of definitions of ‘affordable housing’. Using data on housing shortage, income distribution and unmet need for adequate housing, it argues that ‘affordable housing’ in contemporary urban India must focus on housing under Rs.10 lakh. At this price point, it further argues that neither the state nor the market alone or together can address this unmet need by building new units; there needs to be an equal emphasis on improving existing but inadequate housing.

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