KOCHI:
The need for a comprehensive policy to facilitate affordable housing in Kerala was the focal point of discussion at the Affordable Housing Conference organized by FICCI in association with India Mortgage Guarantee Corporation (IMGC) and Credai Kerala. The event, held in Kochi, brought together key stakeholders from the housing sector to address the pressing issue of affordable housing in the state.
Minister of Revenue and Housing, K. Rajan inaugurated the conference. K. Rajan, emphasized the urgency of addressing affordable housing challenges in Kerala. He announced that the state’s housing policy would be unveiled later this year, taking into consideration Kerala’s unique climate and land availability constraints. Minister Rajan highlighted that unpredictable weather conditions and limited land availability were major impediments to affordable housing in the state. He also announced the imminent inauguration of the first building constructed using cutting-edge 3D technology, a significant milestone in Kerala’s affordable housing sector.
“The adoption of innovative technology and alternative construction methods is essential to make affordable housing a reality in Kerala,” stated Minister K. Rajan. He also revealed plans for the construction of a 40 lakh square feet complex on a 17.9-acre land owned by the Housing Board at Ernakulam Marine Drive, in collaboration with NBCC, which will house the country’s largest exhibition center and commercial complex. Additionally, a National Housing Park featuring 40 different models, including foreign ones, is set to be established in Thiruvananthapuram. Minister Rajan also confirmed the extension of the Kalavara scheme to districts to further promote affordable housing.
Key Stakeholders Discuss Housing Challenges and Opportunities. K-RERA Chairman P.H Kurian underscored the need to address the housing requirements of Kerala’s middle-class population. During the conference, IMGC Chief Distribution Officer Amit Diwan delivered a keynote address highlighting the impending surge in urbanization and the resultant unprecedented demand for housing. FICCI Kerala State Council Co-Chair V P Nandakumar stressed the importance of public-private partnerships to address income-related housing issues.
Other prominent speakers included Credai Kerala General Convenor S.N. Raghuchandran Nair and FICCI Finance Committee Chairman A. Gopalakrishnan. The event included sessions on access to finance for economically weaker sections (EWS) and lower-income group (LIG) borrowers, as well as panel discussions on funding opportunities and challenges for builders.
Amit Dewan moderated the session on Access to Finance for EWS / LIG Borrowers. South Indian Bank MD & CEO Murali Ramakrishnan, Federal Bank Senior Vice President R. Ratheesh, Muthoot Housing Finance CEO Pawan K Gupta and SBI General Manager Seshu Babu were present.
KPMG Associate Partner Anand Sharma moderated the panel discussion on Funding Opportunities and Challenges for Builders. S.N Raghuchandran Nair, Life Mission Deputy CEO Anwar Hussain, Kerala Housing Board Chairman P.P Suneer, Nirmithi Kendra Director Dr. Feby Varghese, Kerala Bank Chief General Manager Dr. A.R Rajesh also participated.
