Affordable housing is a solution for those who cannot afford to have a roof over their head unless it is subsidised or economised to suit their needs. This price-sensitive segment is always priced out due to higher investment needs that go beyond their loan eligibility. The aspiration of having their own house remains an unmet dream.

Global statistics indicate the number of homeless is increasing not only in underdeveloped and developing nations, but also in developed nations (New York and Los Angeles are two of the cities counted among the top to have large numbers of homeless people). Around 300 million people are homeless globally (according to the United Nations), which will reach 330 million by the end of 2025. Besides this, around 2.8 billion people lack access to adequate housing. More shockingly, around 15 million people worldwide are evicted each year, according to statistics. This number is further increased due to climate adversity and disasters. The world is therefore facing an unprecedented crisis of housing shortage. Housing, more than shelter, is the third skin of human beings, bringing safety, stability, and dignity to the occupier and, ultimately, to the nation through its sustainable foundation in a growing ecosystem. Though the housing problem is universal, its manifestations differ by context and country.

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This urgency of affordable housing was critically underlined at the UN-Habitat Assembly in Nairobi on 29-30 May 2025, which adopted the strategic plan for 2026-29, prioritising global needs and calling for coordinated action to treat ‘access to housing’ as a fundamental human right and a cornerstone of sustainable development. The plan seeks to ensure every person has a shelter with dignity and envisages scaling up affordable housing initiatives through innovative financing, public-private partnerships, and policy reform, and by expanding the social protection system to prevent homelessness, etc. In India, 18 lakh people are homeless, of whom 52 per cent are in urban areas, and around 7.3 crore lack access to adequate decent housing (IGH, 2018; Habitat, 2019). The situation is aggravated by population growth, poverty, income inequality, and unemployment-driven city-centric population concentration. The population........

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