Housing is a basic necessity that provides shelter; security, safety, and means for storage of other essentials; and is the setting for the communal life of the neighborhood. The provision for housing is identified as one of the basic rights by the Universal Declaration of Human Rights, article 25 as early as 1948. Housing is a basic necessity that provides shelter, security, safety, and means for storage of other essentials; and is the setting for the communal life of the neighborhood. Housing is an object of attachment to the important idea of home, a source of identity, and has a significant relationship to psychological well-being. The right to housing is explicitly supported by the international laws. The provision for housing is identified as one of the basic rights by the Universal Declaration of Human Rights, article 25 as early as 1948, at par with the need for food, clothing, and medical care. It states “Everyone has the right to a standard of living adequate for the health and wellbeing of himself and of his family, including food, clothing, housing and medical care and necessary social services”. This is clearly something that has been recognized long time ago, but even after more than 65 years of the declaration, we are still struggling to fulfil this basic human right and the crisis is getting worse. The Global McKinsey Institute Report, 2014 states that about 96 million urban households are financially overstretched while 235 million urban households are currently living in substandard housing. But this need will only get more demanding as population is growing exponentially. By 2025, 106 million additional low income households will face challenge of affordable housing. Demand for formal housing will be more in urban areas. This will be due to the fact that people will migrate from rural to urban, rapid growth of urban population and conversion of sub-urban land into urban. It is estimated that by 2020, 62% of the world population will be living in urban areas. According to population reference bureau (July 2011), even though the world population growth rate has slowed from 2.1 percent per year in the late 1960s to 1.2 percent today, the size of the world’s population has continued to rise—from 5 billion in 1987 to 6 billion in 1999, and to 7 billion in 2011. Also it is entirely possible that the 8th billion will be added in 12 years as well and by 2050, more than 2 billion people will be added into the existing world population. Most of this population will be contributed by the world’s poorest countries and will be in need of affordable low cost housing and infrastructure.