Real Estate

Centre sanctions 93% of projects under ‘Housing for all’

G Balachandar Chennai | Updated on March 13, 2020 Published on March 13, 2020

The Centre has sanctioned about 93 per cent of houses to be built across all States and Union Territories (UT) under its mission ‘Housing for all’ by 2022.

Since June 2015, the Ministry of Housing and Urban Affairs has been implementing the Pradhan Mantri Awas Yojana (Urban) – PMAY (U) programme to provide Central assistance to States/UTs to build all-weather houses for eligible urban households, especially families/beneficiaries belonging to the economically weaker section.

Against the assessed/validated demand of 112 lakh houses under PMAY (U), 103.61 houses across States and UTs have already been sanctioned. Of this, 61,57,734 houses are at various stages of construction and 32,15,926 units have been completed/delivered, according to replies of Hardeep Singh Puri, Union Minister of State for Housing and Urban Affairs, in the Lok Sabha.

In the last three years alone, about 79 lakh houses across States and Union Territories have been sanctioned.

Of the 103.61 lakh sanctioned houses so far, Andhra Pradesh, Uttar Pradesh and Maharashtra saw maximum number of sanctions at 20.08 lakh units, 15.74 lakh units and 11.677 lakh units respectively.

Tamil Nadu, Madhya Pradesh, Karnataka and Gujarat received sanctions for 7.89 lakh houses, 7.71 lakh houses, 6.52 lakh houses and 6.46 lakh houses respectively.

About 29 lakh beneficiaries across States have already occupied the houses built under the support of PMAY (U). Uttar Pradesh has seen the highest number of beneficiaries occupying the houses (4.29 lakh), followed by Gujarat (3,22 lakh), Madhya Pradesh (3.21 lakh), Maharashtra (3.08 lakh) and Tamil Nadu (2.60 lakh)

The target of the ‘Housing for all’ mission is to complete the 112 lakh houses by March 2022.

Thus, the remaining 9 lakh houses, as part of the mission, are to be sanctioned. States/UTs have been requested to get the project proposals for all their remaining demand of houses sanctioned at the earliest so that construction of all houses may progressively be completed by 2022, he said.

State/UTs have also been requested to expedite the grounding/completion of already sanctioned projects houses.

In addition to budgetary resources, the National Urban Housing Fund for ₹60,000 crore has been created for raising extra-budgetary resources in phases for rapid implementation of the PMAY(U).

Also, an ‘Affordable Housing Fund’ of ₹10,000 crore has been created in the National Housing Bank using the priority sector lending shortfall in banks/financial institutions. The fund is used for micro-financing of the housing finance companies and non-banking finance companies which provide housing loan at a reduced interest rate to individual borrowers for promoting home ownership.

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Published on March 13, 2020
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