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24 October 2017
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Housing (The Total Investment & Insurance Solutions)
The
government said on Tuesday that a universal affordable housing scheme will give
a big boost to the construction industry as 1.2 crore dwellings will be built
in three years under PMAY's urban component and another 1.02 crore units under
its rural component by March 2019. The Total
Investment & Insurance Solutions
"The
universal affordable housing for all will give a big boost to the construction
industry," Finance Secretary Ashok Lavasa told the media in the presence
of Finance Minister Arun Jaitley after a Union Cabinet meeting here.
Lavasa
said 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
said 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 said 51 lakh units
will be built this year. The Total
Investment & Insurance Solutions
The
government last month announced a new PPP (Private Public Partnership) Policy
for Affordable Housing that allows extending central assistance of up to Rs
2.50 lakh per house to be built by private builders even on private land,
besides opening up immense potential for private investments in affordable
housing projects on government land in urban areas.
The
government had launched "Housing for All" in rural areas in November
2016 under which the government proposes to provide an environment friendly and
secure house to every rural household by 2022.
The
government had in June 2015 given its approval for "Housing for All by
2022" for urban areas which provided for rehabilitation of slum dwellers,
promotion of affordable housing for weaker sections through credit-linked
subsidy and subsidy for beneficiary-led individual house construction or
enhancement. The Total Investment & Insurance
Solutions
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