Urbanization is accelerating at an exponential rate in developing countries and it has now become the modern trend of today’s globalized world which is making a very rapid progress with the support of everyday innovative technology. This new tradition of modernization is prompting people to leave their homes and to get exposure to the world. Urbanization is accelerating at an exponential rate in developing countries and it has now become the modern trend of today’s globalized world which is making a very rapid progress with the support of everyday innovative technology. This new tradition of modernization is prompting people to leave their homes and to get exposure to the world. As everything comes naturally with positive and negative impacts, one wants to see how this big change is affecting our world. Asia, in particular is the most affecting continent where one can see the rapid growth of urbanization. This paper examines various aspects of urbanization in Asia region and taking Pakistan as prototype of urbanization phenomena. The reason behind the study is the lack of formal housing in urban spaces as one of the major consequences of unplanned and uncontrolled modernization of cities in Pakistan. The analytical insight into current issues and challenges faced by Pakistan, because of increasing population and rising trend of migration toward urban centers, will serve in identifying the problems in right direction. Answers and solutions only then can be formatted based on the organized examination of existing problems. Affordable housing is the new remedy for the current problem of urban housing and it has been accepted by the urban poor like a holy thing. It has something to serve in real or it’s just a superficial concept to give a timely relief to poor community.