Centre urges states to get housing proposals under PMAY sanctioned by 2020

                The Centre has requested states and Union territories to get their housing proposals sanctioned by March next year under PMAY (U) for their remaining demand, a move aimed at meeting the deadline of 'Housing for All' in 2022.



In written reply to a question in Lok Sabha on Thursday, Union Housing and Urban Affairs Minister Hardeep Singh Puri said that the validated demand reported by states and UTs so far is around 1.12 crore.



The minister said that based on the project proposals received so far from the states and UTs, central assistance of Rs 1,45,949 crore has been sanctioned for construction of nearly 93 lakh houses.



According to the government, 55,40,801 houses have been grounded for construction of which 28,06,465 houses have been completed under the Pradhan Mantri Awas Yojana (Urban).



"States/UTs have been requested to get their project proposals for all their remaining demand of houses sanctioned by March 2020 so that construction of all houses may progressively be completed by 2022," Puri said.



Last month, the Union Housing and Urban Affairs Minister had told that all the 1.12 crore houses being constructed under the PMAY (Urban) would be occupied by beneficiaries by early 2021.



"By March 2020, all the 1.12 crore houses will be sanctioned and 75 lakh houses will be grounded. Fifty lakh houses will be completed and 40-45 lakh houses occupied by beneficiaries in next five to six months.


"We are fully confident that by early 2021, all houses will be occupied by beneficiaries," Puri had said.



PMAY (Urban) has four components - 'Credit Linked Subsidy Scheme' (CLSS), In Situ Slum Redevelopment (ISSR), Affordable Housing in Partnership (AHP) and Beneficiary Led Construction (BLC) under which the ministry provides central assistance to beneficiaries to construct their own houses.



Under CLSS, Centre provides interest subsidy of up to around Rs 2.67 lakh on home loans to individuals, which reduces the principal outstanding amount of the loan.


Source: ET Realty