PMAY: State approves Rs 120 Cr fund for Solapur’s Ray Nagar housing project 

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%.

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