Centre allocates Rs.9K crs for urban affordable housing

NEW DELHI: The ministry of housing & urban poverty alleviation has approved investment of Rs 9,005 crore for construction of 73,205 homes for the economically weaker sections in urban areas of Maharashtra, Punjab and Jammu & Kashmir. This investment is under the Prime Minister’s Awas Yojana.

An inter-ministerial central screening & monitoring committee chaired by Nandita Chatterjee, secretary, HUPA approved the first batch of housing proposals during the current financial year. These were also the first affordable housing proposals of these three States sanctioned under PMAY (Urban).

Maharashtra has been sanctioned a total of 71,701 houses in 10 cities at a total project cost of Rs.8,932 cr with central assistance of Rs.1,064 crore. Around 61,946 homes have been approved under affordable housing in partnership (AHP), 7,399 for beneficiary led construction (BLC) and 2,356 for in-situ slum redevelopment. For Punjab, construction of 1,280 houses for In-situ slum redevelopment in Bhatinda was approved with a total investment of Rs 57 crore for which central assistance of Rs 12.80 crore has been given.

For Jammu & Kashmir, construction of 224 houses under beneficiary led construction component of PMAY (Urban) has been approved with a total investment of Rs 16.07 crore with central assistance of Rs 3.36 crore. This includes construction of 141 houses in Udhampur and 83 in Baramullah.

Under the components of AHP and BLC of PMAY (Urban), central assistance of Rs.1.50 lakh per house is provided while under In-situ Slum Redevelopment to be taken up private developers through monetization of existing land, central assistance of Rs.1.00 per each house is provided.

With these approvals, the total investment approved for affordable housing under PMAY (Urban) so far has gone up to Rs 43, 922 crore for construction of 6,83,724 houses for urban poor with total central assistance commitment of Rs 10,050 crore.

Under PMAY (Urban) launched in June last year, construction of 2 crore houses for urban poor by the year 2022 is targeted.

Credits ET Realty

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