Centre Disburses Rs 11,412 crore For 24 Lakh Affordable Houses

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As per ministry sources nearly 24 lakh affordable houses have received a sanction until now under the Pradhan Mantri Awas Yojana (Urban) and for it the centre has released over Rs 11,412 crore. The assistance agreed upon for as many as 24 lakh dwelling units stands at approximately Rs 37,233 crore.

Centre Disburses Rs 11,412 crore For 24 Lakh Affordable Houses

Amrit Abhijat, Joint Secretary and Mission Director (Housing for All) at the Ministry of Housing and Urban Affairs says "After launch of PMAY(U), as many as 2.99 lakh units have been completed since the last two years. The pace of construction is much faster than the earlier JNNURM scheme".

As against the JNNURM scheme, central assistance as well as the number of affordable housing units sanctioned are almost double in PMAY(U). "For states that are doing well, numbers are not the only criteria. The size of the state and the total demand emanating depending on the number of eligible urban poor from it is equally important," clarifies Abhijat.

Based on the demand assessment, Andhra Pradesh has submitted the maximum number of affordable housing proposals. "Though it has a demand of about 13.77 lakh houses, it has submitted proposals for construction of 4.20 lakh houses. Tamil Nadu has been sanctioned 3.32 lakh houses. Gujarat has submitted proposals for 1.38 lakh houses and as many as 2.83 lakh houses have been sanctioned for the urban poor for the State of Madhya Pradesh", said Abhijat.

"States that need to bring in more proposals based on their demand assessment include UP, Maharashtra, Karnataka, Bihar, Gujarat and Rajasthan. These states constitute more than 50 percent of housing demand," he says.

As of July 24, 2017, Rs.924 crore of interest subsidy has been granted in respect of as many as 47857 home loan accounts for the housing loan disbursed as part of the credit-linked subsidy scheme (CLSS)."This is one of the highest disbursals done under an interest subvention programme so far",he says.

Furthermore, to boost investment in real estate by millennials, the government has notified changes in the PMAY(U) housing for all mission and included any adult earning individual irrespective of his or her marital status who does not have or own a pucca house.

Goodreturns.in

Story first published: Thursday, July 27, 2017, 11:13 [IST]
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