Govt approves additional investment in housing for urban poor

Central Government has approved an additional investment of Rs 16,641 crore in affordable housing for the construction of 2,44,267 houses for urban poor under Pradhan Mantri Away Yojana (Urban) during the first four months of this financial year. The Ministry of Housing & Urban Poverty Alleviation approved these proposals for the benefit of urban poor in 11 States. Central assistance of Rs 3,634 crore has been approved for construction of these houses under three components of the urban housing mission viz, Affordable Housing In Partnership (1,24,642 houses), Beneficiary Led Construction (1,15,989) and In-Situ Slum Redevelopment (3,636 houses).

With these approvals, a total investment of Rs 51,568 crore has so far been approved for construction of 9,27,991 houses for Economically Weaker Sections (EWS) in urban areas in 20 States under PMAY (Urban). Central assistance of Rs 12,604 crore would be provided for construction of these houses. During the last financial year (2015-16), 6,83,724 houses were approved for the urban poor in 18 States with a total investment of Rs 34,927 crore.

Central assistance of Rs 1.50 lakh per each dwelling unit is provided for affordable housing under Affordable Housing in Partnership and Beneficiary Led Construction components while up to Rs 1.00 lakh per house is given for In-situ Slum Redevelopment.

Source : Urbannewsdigest