 "Pradhan Mantri Awas Yojana-Urban gets nod for continuation up to Dec 2024")
The Union Cabinet approved the proposal of the Ministry of Housing and Urban Affairs (MoHUA) for the continuation of Pradhan Mantri Awas Yojana-Urban (-U) up to December 31, 2024, said officials on Wednesday.
As per the proposal, financial assistance is to be provided for the completion of already sanctioned 122.69 lakh houses till March 31, 2022.
PMAY-U, Housing for All is one of the major flagship programmes being implemented by the Government of India to provide all-weather pucca houses to all eligible beneficiaries in the urban areas of the country through States/UTs/Central Nodal Agencies.
The scheme covers the entire urban area of the country, i.e., all statutory towns as per Census 2011 and towns notified subsequently, including Notified Planning/ Development Areas. The scheme is being implemented through four verticals: Beneficiary Led Construction/ Enhancement (BLC), Affordable Housing in Partnership (AHP), In-situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS).
"During the period 2004-2014, 8.04 lakh houses were completed under Urban Housing Scheme. Under the Modi Government, the issue of providing houses to all eligible Urban dwellers in saturation mode was brought into focus and the scheme of PMAY-Urban was conceptualised. In 2017, the original projected demand was 100 lakh houses. Against this originally projected demand, 102 lakh houses have been grounded/under construction," read a statement by the Union Ministry.
The ministry cited that out of the total sanctioned 123 lakh houses, the proposals of 40 lakh houses were received late (during the last 2 years of the scheme) from the States/UTs which require another two years to complete. Therefore, based on the requests from the States/UTs, the Union Cabinet decided to extend the implementation period of PMAY-U till 31.12.2024.
"The continuation of the scheme based on the request of States/UTs upto 31st December 2024 will help in the completion of already sanctioned houses under BLC, AHP & ISSR verticals," the statement added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)