The housing & urban affairs ministry, which released the PMAY-U 2.0 guidelines this month, has imposed strict deadlines for states/UTs to implement about 15 urban reforms by June 2025.
Real estate experts welcome Centre's push for rental housing, but say it is not financially viable for private companies to construct and operate; needs greater government involvement.
Under PMAY 2.0, which subsumed slum redevelopment in other verticals, Centre targets construction of 3 crore new houses — 2 crore in rural areas & 1 crore in cities — over next 5 yrs.
Two crore of these could come up in rural areas. Plan to provide relief on interest charged on home loans to eligible beneficiaries in urban areas in the works.
Modi govt had launched Affordable Rental Housing Complexes (ARHC) scheme in July 2020 during the pandemic, when there was a massive exodus of migrant workers from cities.
According to the Interim Budget, extra 2 crore houses under Pradhan Mantri Awas Yojna-Gramin will be made in 5 yrs. Plan to launch a special housing scheme was announced by Modi last yr
Housing & urban affairs ministry is working on details of scheme, which is likely to be on the lines of Credit Linked Subsidy Scheme vertical of Pradhan Mantri Awas Yojana-Urban (PMAY-U).
According to state housing department data, Maharashtra has so far completed just 27% of Pradhan Mantri Awas Yojana (Urban) target, with only 16 months left for the scheme to end.
Speaking from ramparts of Red Fort on Independence Day, Modi also listed the outcome of his govt's schemes including Mudra Yojana, PM SVANidhi, Ayushman Bharat & PM Awas Yojana.
About 1,100 of 1,862 beneficiaries have already moved in from jhuggis at Bhoomiheen Camp. Teething problems such as hard drinking water are being looked after by 12 DDA officials.
Premier David Eby, the leader of the minerals- and gas-rich province of British Columbia, spoke with executives at Tata Steel and Reliance Industries on a trade mission to India.
Overall, President Droupadi Murmu has approved Gallantry awards to 70 armed forces personnel, including six posthumous, on the eve of 77th Republic Day.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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