By Accommodation Times Bureau
The State Cabinet approved a bill to distribute Rs 120 crore funds to Maharashtra State’s special fund for Solapur’s Ray Nagar housing project under Pradhan Mantri Awas Yojana (PMAY). This decision will speed up the process of constructing houses for economically weaker beneficiaries.
Ray Town Home Project is being implemented in Solapur under the Prime Minister’s housing scheme for 30,000 affordable housing.
Private players can also build affordable homes in the Prime Minister’s Housing Scheme. The scheme is being implemented by private participation by the centre, Rs1.50 lakh per beneficiary and Rs1 lakh from the state. The contribution of the centre is given in the three phases of the construction work of 40 %, 40% and 20%.
With the participation of Ray Garden Federation in Solapur, a project to construct 30,000 affordable houses is underway. The federation has started the project according to the proposal given by Union Accreditation and Monitoring Committee.
The amount of Rs 120 crores will be sanctioned and approved by the Maharashtra fund for the first phase of 40% of the state’s share of Rs 40 thousand per beneficiary. This fund has been approved as a special case by granting such a grant, while completion of work till completion of the construction and relaxation of bank guarantee, an official said.