2.4 Cr affordable homes to be built under PMAY by 2019

apartment1By Accommodation Times Bureau

The government told on tuesday that by March 2019, under the affordable housing scheme there will be a uplift in construction industry and there will be construction of 1.2 crore  homes which will be built in next three years under Pradhan Mantri Awas Yojana or PMAY’s urban expert and another 1.2 crore units under its rural expert.

Finance Secretary Ashok Lavasa said that, “1.2 crore units under the Pradhan Mantri Awas Yojana or PMAY (Urban) would entail an expenditure of Rs 1,85,069 crore in three years”. He further added that, “”The universal affordable housing for all will give a big boost to the construction industry, He told the media in the presence of Finance Minister Arun Jaitley after a Union Cabinet meeting.

In November 2016, government had launched “Housing for All” in rural areas. By 2022 every rural household will be provided by Eco – Friendly and safe homes.

Lavasa said that, under PMAY (Gramin) 1.02 crore units would be built at a cost of Rs 1,26,795 crore by the Centre and states by March 2019. Lavasa further added, 51 lakhs units will be built this year.

Government even took initiative to promote affordable house for weaker section through credit-linked subsidy and subsidy for beneficiary-led individual house construction or enhancement.

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