New Delhi Attributing the housing boom to easy availability of loans, new housing and urban poverty alleviation minister Ajay Maken on Wednesday said that the housing bubble could burst in the absence of proper planning.

As per the latest figure, he said, the number of vacant houses in the country were rapidly rising and already accounted for 11% of the total housing units in developed areas where middle and upper middle class people live. This is like a bubble which can burst any time.

Housing finance options for low-salary earners and the self-employed poor in India are severely limited and have significantly affected their housing conditions. A recent session of the governing council of UN-HABITAT focussed on this theme and emphasised the need to expand financing options.

A. Srivathsan A drastic intervention that combines incentives, subsidies and regulation is required to address the housing crisis.