Niranjan Hiranandani Calls for Focus on Affordable, Rental Housing

By A Staff Reporter

New Delhi, January 4 — Hiranandani Group Managing Director Niranjan Hiranandani described his recent meeting with Union Finance Minister Nirmala Sitharaman as highly productive, emphasizing collaboration between the government and the real estate sector to address key housing challenges.

Speaking after the meeting, Hiranandani expressed concern over the decline in affordable housing growth. "In my whole career of 40-plus years, this is the first year where affordable housing growth is negative," he said. He praised the government’s focus on the Pradhan Mantri Awas Yojana (PMAY) scheme and called for further incentives to stimulate the segment.

Hiranandani also highlighted the importance of rental housing and urban renewal. "Our focus needs to be on rental housing," he said, adding that innovative approaches to slum redevelopment are critical, especially in Mumbai. "We have represented the concept to the Maharashtra Chief Minister, and he is extremely supportive of this idea," he noted, referring to proposals aimed at eliminating slums and improving urban living conditions.

The discussions also touched on broader urban development issues, including mobility, women’s safety, and pedestrian infrastructure. Hiranandani lauded the government’s willingness to engage with industry stakeholders, calling the meeting a step in the right direction for collaborative urban development.