PMRDA Pune Hopes Boost To Affordable Housing Through PPP Model

Affordable housing in the Pune metropolitan region is set for the necessary push with the state government clearing the (Public Private Partnership) PPP model in the sector last week.

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PMRDA Pune Hopes Boost To Affordable Housing Through PPP Model

Affordable housing in the Pune metropolitan region is set for the necessary push with the state government clearing the (Public Private Partnership) PPP model in the sector last week.

With 167 housing projects under the Pradhan Mantri Awas Yojana (PMAY), the Pune Metropolitan Region Development Authority (PMRDA) expects more private developers to get active in the area spread a little over 7,000 sq km.

Also Read: Pune Affordable Housing Segment Demand Increases, Anarock Property

Affordable housing through the PPP model will be executed in the Pune metropolitan region with over 167 housing projects. First-time home buyers, under PMAY, can fill up forms to be made available online. PMRDA will connect them to banks for further processing for availing of the PMAY benefits.

Also Read: Some Builders Stick To Luxury Projects Backed By Demand From NRI

There are 2.58 lakh units in these housing projects. The recent directive will be a positive move for the area with infrastructure projects such as the ring road, Metro and town planning schemes to come in years to come. To implement these projects under PPP model a special workshop will be held on January 22 with the developers and government officials.

Confederation of Real Estate Developers Association of India’s (Credai) Maharashtra president told, that they have been pushing for the PPP model and the government’s initiative was a good move. There should be enough publicity for the scheme as the benefits should reach the end user.

Also Read: By 2022 19.4 Lakh Affordable Flats To Be Built By MHADA Maharashtra

One of the developer said he welcome the reduction of stamp duty to Rs 1,000 for units meant for the economically weaker section. It is still unclear whether it is applicable to units constructed by the private sector, adding that the confusion over the environment clearance procedure should also be removed to boost the ailing sector.

Source Link- https://timesofindia.indiatimes.com/.

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