[ecis2016.org] The Centre on December 28, 2019, approved construction of 6.5 lakh houses under the Pradhan Mantri Awas Yojana (Urban or PMAY-U), taking the total number of houses being funded under the scheme to over one crore.

The Centre on December 28, 2019, approved construction of 6.5 lakh houses under the Pradhan Mantri Awas Yojana (Urban or PMAY-U), taking the total number of houses being funded under the scheme to over one crore.

You are reading: Over 1 crore houses funded under PMAY-urban so far

Prime Minister Narendra Modi described this as a momentous achievement.

“This initiative has been marked by transparency, use of technology and rapid implementation. I congratulate entire team at @mohua_india (Urban Affairs Ministry) for their hardwork to ensure every Indian has a roof over their head,” Modi wrote on Twitter.

Addressing a press conference, Union Housing and Urban Affairs Minister Hardeep Singh Puri said in the next three to four months, the ministry would sanction all the 1.12 crore houses, a target set by the government.

Read also : Will rising home loan interest rates deter home buying?

According to the ministry, a total of 57 lakh houses are in various stages of construction, of which nearly 30 lakh houses have been completed.

Ministry Secretary Durga Shanker Mishra said that the PMAY had covered a range of social groups which comprises around 5.8 lakh senior citizens, 2 lakh construction workers, 1.5 lakh domestic workers, 1.5 lakh artisans, 770 transgenders, 500 leprosy patients, among others, as of now.

Puri said that the implementation of PMAY (U) had induced a remarkable investment in the housing sector, especially in the affordable housing segment.

The houses sanctioned so far under the mission involve an investment of about Rs 5.70 lakh crore with Central assistance of Rs 1.6 lakh crore. As on date, nearly Rs 60,000-crore Central assistance has been released.

“At present, works of about Rs 3 lakh crore is ongoing and by the time mission accomplishes its target of 1.12 crore houses, the entire activity will trigger an investment of more than Rs 7 lakh core,” the ministry said in a statement.

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PMAY: Over Rs 8,300 crores in subsidy disbursed to 3.77 lakh home buyers

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Subsidy of over Rs 8,300 crores has been disbursed to more than 3.7 lakh home buyers so far, under the government’s Credit-Linked Subsidy Scheme (CLSS), the Lok Sabha was informed, on February 5, 2019. In a written response to a question, union housing and urban affairs minister Hardeep Singh Puri, said since the CLSS was launched under the Pradhan Mantri Awas Yojana (Urban), Rs 8,378.15 crores had been disbursed to 3,77,022 home buyers.

[ecis2016.org] Gujarat tops the list among 2.75 lakh home buyers availing of the subsidy scheme under PMAY (U)

The PMAY (U), launched by prime minister Narendra Modi in June 2015, aims to ensure ‘Housing for All by 2022’, by providing financial assistance to beneficiaries. The CLSS was introduced in June 2015 under the PMAY, to grant home loans to customers from the Economically Weaker Section (EWS) and the Lower Income Group (LIG) and was extended to the Middle Income Group (MIG) from January 2017.

According to official data, Gujarat has topped the list of subsidies being disbursed under the CLSS at Rs 2,683.63 crores, followed by Maharashtra (Rs 2,356.44 crores), Uttar Pradesh (Rs 494.20 crores) and Madhya Pradesh (Rs 461.20 crores). In the 2015-16 financial year, the government had disbursed Rs 99.36 crores to 5,835 home buyers under the CLSS, while in 2016-17, Rs 424.33 crores had been given to 22,607 home buyers.

In the 2017-18 financial year, Rs 2,481.56 crores was disbursed to 1,12,449 beneficiaries. In the current financial year, the government has so far disbursed 5,372.90 crores to 2,36,129 home buyers under the CLSS, across the country.

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle