India Launches New Urban Housing Scheme to Boost Affordable Living

The Indian government unveiled a new urban housing scheme today aimed at providing affordable homes to low- and middle-income families. The scheme, named "Affordable Urban Housing 2026," will allocate $5 billion over the next three years to develop 1 million housing units across major cities. According to the Press Trust of India, the initiative focuses on sustainable construction and includes subsidies for first-time homebuyers. The government expects this move to reduce the urban housing shortage by 10% and stimulate the construction sector. Officials highlighted that the program aligns with Prime Minister’s vision of ‘Housing for All’ by 2030. The scheme also emphasizes green building standards to promote environmental sustainability in urban areas.