A Call for Housing Revolution by Niranjan Hiranandani

India at a Critical Housing Juncture

India’s housing sector is at a decisive moment, with rapid urbanisation, population growth, and rising aspirations placing unprecedented pressure on existing housing systems. Against this backdrop, Niranjan Hiranandani, Chairman of the National Real Estate Development Council (NAREDCO), has urged policymakers and industry stakeholders to initiate what he terms a “housing revolution”.

His remarks come at a time when the gap between housing demand and supply remains significant, particularly in urban and peri-urban areas. Despite multiple policy initiatives over the years, challenges persist in delivering homes at scale, speed, and affordability.

Structural Challenges Slowing Housing Delivery

Addressing industry stakeholders at a recent conference, Hiranandani highlighted several structural constraints that continue to slow housing development across the country. Among the most pressing issues is the sharp rise in construction input costs, including cement, steel, and labour, which has increased overall project expenses and strained developer viability.

In addition, complex and time-consuming regulatory approval processes remain a major bottleneck. Multiple clearances across departments often delay project launches and completions, increasing holding costs and reducing the feasibility of affordable and mid-income housing projects.

He also pointed to inconsistencies in policy implementation across states, which create uncertainty for developers and investors planning long-term housing projects.

Approval Delays and Regulatory Friction

One of the central themes of Hiranandani’s address was the need to address approval delays. According to industry estimates, regulatory approvals can account for a significant portion of project timelines, particularly in large urban centres.

These delays not only slow down housing supply but also inflate end prices, as developers are forced to factor extended timelines into project costs. Streamlining approvals and improving coordination between authorities, he argued, is essential to accelerate housing delivery.

Public-Private Partnerships as a Catalyst

To overcome these challenges, Hiranandani strongly advocated for expanded use of public-private partnerships (PPPs). He suggested that closer collaboration between government bodies and private developers could unlock land parcels, improve financing access, and accelerate execution.

Under a well-structured PPP model, the public sector can provide policy support and land access, while the private sector contributes capital, execution expertise, and project management capabilities. Such collaboration, he noted, has the potential to significantly scale housing supply without overburdening public finances.

Beyond Quantity: Focus on Sustainable Urban Living

Hiranandani emphasised that a housing revolution must go beyond simply increasing the number of homes built. He called for a shift toward sustainable urban planning that integrates housing with transport, employment hubs, social infrastructure, and green spaces.

Future housing developments, he argued, should prioritise quality of life, energy efficiency, and long-term liveability. This includes adequate open spaces, environmental considerations, and access to essential services such as healthcare and education.

Affordable Housing and Social Impact

The call for reform is particularly relevant for the affordable housing segment, which remains under pressure due to thin margins and high development costs. Without targeted support and policy clarity, supply in this segment risks falling short of demand.

Hiranandani stressed that housing is not merely a real estate issue but a social and economic priority. Adequate housing directly impacts workforce productivity, public health, and overall urban stability.

Industry–Government Collaboration Key

According to Hiranandani, meaningful progress will depend on sustained collaboration between policymakers, developers, financial institutions, and urban planners. He urged stakeholders to move away from fragmented approaches and adopt a unified, long-term vision for housing development.

Such collaboration, he noted, is essential to balance growth with affordability and sustainability.

Conclusion

The call for a housing revolution reflects growing recognition that incremental reforms may no longer be sufficient. With urban housing demand continuing to rise, India faces a narrow window to implement bold, coordinated measures.

If addressed through regulatory reform, public-private collaboration, and sustainable planning, the housing sector could not only meet demand but also become a powerful driver of inclusive economic growth in the years ahead.

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