Pradhan Mantri Awas Yojana Maharashtra, 1,44,165 Dwellings Sanctioned

Ministry of Housing & Urban Affairs has sanctioned the construction of 1,44,165 houses to be built in Maharashtra under the Pradhan Mantri Awas Yojana (Urban).

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Pradhan Mantri Awas Yojana Maharashtra, 1,44,165 Dwellings Sanctioned

Pradhan Mantri Awas Yojana Maharashtra: Ministry of Housing & Urban Affairs has sanctioned the construction of 1,44,165 houses to be built in Maharashtra under the Pradhan Mantri Awas Yojana (Urban).

Affordable housing schemes for the middle and lower income groups are now moving in a positive direction. The high demand for housing in this segment is also being met with increasing supply. In India, the demand for affordable housing has always been high. However, most of the ready to move in properties in Mumbai cost over Rs 1 crore, resulting in a stalemate situation for the current real estate inventory. Developers of these properties cannot bring the cost of their property down as they have invested in location, premium features and amenities.

To met the targets of “Housing for All by 2022” Government is collaborating with private builders and developers under a public-private partnership (PPP) model. Government is providing 39% higher allocations for the development of affordable housing under the Pradhan Mantri Awas Yojana (PMAY) and also extended the Credit Linked Subsidy Scheme (CLSS) for loans upto Rs 12 lakh.

The government has taken steps to make the segment lucrative for builders to invest in. Rating agency ICRA has released a report which states that the affordable housing segment will grow faster than the rest of the real estate sector in India.

Source Link- http://www.financialexpress.com/industry/pradhan-mantri-awas-yojana-construction-of-144165-affordable-dwellings-in-maharashtra-cleared-here-is-who-can-get-them/829625/

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