Kutumb | IIFL Home Loans X ADB | Need For Green Affordable Housing

Summary

India is facing a severe urban housing shortage, with a projected gap of 38 million homes by 2030. Over 96% of home seekers belong to low-income groups, and women have limited participation in decision-making. Housing contributes significantly to greenhouse gas emissions, but green affordable housing is a key solution. The IIFL Home Loan and Asian Development Bank's technical assistance program aims to promote green housing through awareness, capacity building, and research. This initiative also includes efforts to enhance gender inclusion, build expertise, and create a sustainable housing ecosystem, offering a business opportunity in the trillion-dollar market.

Takeaways

• 🏘️ Urban housing shortage in India is currently at 19 million, expected to rise to 38 million by 2030, with low-income groups being the primary buyers.
• 🌍 Over 96% of home seekers in India come from low-income groups, which leads to low participation of women in the housing decision-making process.
• 🏗️ Millions of homes need to be constructed by 2030, but current homes are often not built to withstand adverse climatic conditions.
• 🌱 Current housing techniques contribute significantly to climate change, accounting for over 37% of global greenhouse gas emissions, which are expected to rise to 70% by 2050.
• ⚡ Buildings are the biggest consumers of electricity, and reducing energy consumption can help lower greenhouse gas emissions.
• 🌳 There is an urgent need for green affordable housing in India, and initiatives like IIFL Home Loan and Asian Development Bank’s technical assistance program are working to address this challenge.
• 💡 The program supports green affordable housing by creating awareness, strengthening the ecosystem, and promoting research and innovation in sustainable building practices.
• 💰 Going green in housing not only helps the environment but also offers significant business opportunities in a trillion-dollar market.
• 🏠 Through the Kodum initiative, architects, developers, and construction professionals are brought together to explore solutions for affordable green housing and provide technical assistance.
• 📚 The Punk initiative helps migrant construction workers educate their children, improving their quality of life, while the Disha initiative promotes sustainability among women and children in low-income homes.
• 🔬 The capacity-building aspect of the program addresses knowledge gaps at multiple levels, including policy, state, and district levels, with a focus on gender sensitivity, green certification, and green building implementation.

Q & A

What is the current estimated urban housing shortage in India?

The current urban housing shortage in India is estimated at 19 million homes, with this gap potentially widening to 38 million by 2030.

What percentage of people in India looking for homes belong to low-income groups?

Over 96 percent of people in India looking for homes belong to low-income groups.

Why is there a need for energy-efficient housing in India?

Energy-efficient housing is needed because current housing techniques significantly contribute to greenhouse gas emissions, accounting for over 37% of global emissions, and these emissions are expected to increase to 70% by 2050.

How does reducing energy consumption in buildings help fight climate change?

Reducing energy consumption in buildings helps fight climate change because buildings are the biggest consumers of electricity, and cutting energy usage can significantly reduce greenhouse gas emissions.

What is the role of IIFL Home Loan and the Asian Development Bank in addressing the housing crisis?

IIFL Home Loan and the Asian Development Bank have collaborated under the Technical Assistance Program to promote green affordable housing in India. Their efforts focus on awareness, capacity building, and research to support the green housing ecosystem.

What is the 'Pradhan Mantri Awas Yojana,' and how does it relate to green housing?

The 'Pradhan Mantri Awas Yojana' is a government initiative aimed at providing affordable housing. It aligns with the goal of constructing green affordable homes at scale, with the potential to address both the housing shortage and climate challenges.

What is the significance of green buildings in the market?

Green buildings offer a competitive advantage by helping build a strong brand and differentiating a company in the market. The green housing market is valued at one trillion dollars per annum, presenting a significant business opportunity.

What is the 'Kudum' initiative, and how does it promote affordable green housing?

The 'Kudum' initiative brings together architects, developers, and construction professionals to provide technical assistance, information, and explore solutions for affordable green housing, creating a nationwide ecosystem.

What is the role of 'Punk' in promoting education among migrant construction workers' children?

The 'Punk' initiative is an e-CSR program that helps educate the children of migrant construction workers by establishing Civic Learning Centers on construction sites, offering formal education to hundreds of children.

What is the focus of the capacity-building pillar of the Technical Assistance Program?

The capacity-building pillar aims to transform green housing ideas into reality by providing training sessions across India. It addresses climate adaptation, gender mainstreaming, and offers green certifications to homebuyers, developers, and policymakers.

What are the key areas of research and innovation under the Technical Assistance Program?

The key areas of research and innovation include creating a unified rating program for green buildings, initiating research in green lending for affordable housing, solving for gender sensitivity in design, and identifying new technologies for sustainable housing.