affordable housing
Img : echo

Good news of urban poor, Central Government has approved construction of 1.5 lakh more houses for them under the Pradhan Mantri Awas Yojana (Urban). With this approval, the tally has now reached to 47.52 lakh under the programme so far. The current sanction was given in the 34th meeting of the Central Sanctioning and Monitoring Committee last week.

As per the press release, released by Housing and Urban Affairs (HUA) Ministry, the latest approval involves an investment of Rs 7,227 crore with central assistance of Rs 2,209 crore.

The release further said, “Andhra Pradesh was sanctioned 56,512 houses, while Uttar Pradesh got 23,060, followed by Madhya Pradesh, Jharkhand, and Maharashtra with 17920 14526 and, 13506 sanctioned houses.”

Other states for which approval was given include Chhattisgarh, Rajasthan, Odisha, Punjab, and Assam.

The HUA Ministry targets construction of 1.2 crore houses for urban poor by 2022. During the last three years from 2015 to 2018 over 45 lakh dwelling units have been approved for construction. With the rapid pace of sanctions for affordable homes, the Union Government is targeting to achieve its ambitious project of ‘Housing for All’ by mid of 2019 which is much earlier than its stated deadline of 2022.

In order to attract people to get their dream home, the central government on 25th June 2015, has launched its flagship mission ‘Housing for All by 2022′. The scheme named Pradhan Mantri Aawas Yojna (PMAY) is classified into two parts- PMAY (Urban) and PMAY (Rural). This is a Credit-Linked Subsidy Scheme (CLSS) for Lower Income Group/Economically Weaker Section (EWS/LIG) and Middle Income Group (MIG – I & II). Beneficiaries availing this scheme are eligible to avail interest subsidy on the purchase or construction of a house or the enhancement of dwelling unit.