Modi's ambitious 'Housing for All' programme fails to take off

Mumbai

INDIA'S ambitious "Housing for All" plan is bumping up against some harsh realities. Prime Minister Narendra Modi set a target in 2015 of building 50 million homes in less than a decade, or about seven million a year. The nation has since added only 180,877 under the scheme, underscoring the challenge in achieving that target.

"It was a moon shot," said Rajesh Krishnan, chief executive officer at Brick Eagle, a Mumbai-based private equity fund that provides project financing to affordable housing developers.