The Ministry of Housing and Affairs (MoHUA) has sanctioned more than 93 Lakh houses against the demand of 1.12 crore houses under Prime Minister Awas Yojna (Urban). As per data furnished by the Ministry, as many as 55 Lakh houses are grounded for construction of which construction of more than 28 lakh houses is complete.
The Ministry has approved 371 proposals for the construction of 2.31 lakh more homes with an overall investment of Rs 7,322 crore involving central assistance of Rs 3,473 crore taking the total number of homes sanctioned under the scheme to 93.1 lakh. These houses will be constructed in Andhra Pradesh, Assam, Bihar, Madhya Pradesh, Nagaland, Puducherry and Uttar Pradesh.
The number of houses approved under the PMAY (Urban) are Andhra Pradesh-1,24,624 houses, Assam-16,002 houses,Bihar-15,049 houses, Madhya Pradesh-18,362 houses,Nagaland-3,238 houses, Puduchery-1,811 houses and Uttar Pradesh-52,446 houses.
Secretary, MoHUA, Durga Shanker Mishra said that the investment in sanctioned houses is Rs 5.56 lakh crore which includes Rs 2.82 lakh crore as Public Sector investment while Rs 2.74 lakh crore from the private sector. “Out of Rs Lakh crore of central assistance approved, Rs 57,896 crore has been released to the States/UTs so far,” Mishra added. Officials said that Andhra Pradesh and Uttar Pradesh have achieved nearly 100 percent of their urban housing demand of 13.78 Lakh and 15 Lakh houses respectively.
PMAY (Urban) has four components - ‘Credit Linked Subsidy Scheme’ (CLSS), in situ Slum Redevelopment (ISSR), Affordable Housing in Partnership (AHP) and Beneficiary Led Construction (BLC) under which Ministry provides central assistance to beneficiaries to construct their own houses. Under CLSS, the Centre provides interest subsidy of up to around Rs 2.67 lakh on home loans to individuals, which reduces the principal outstanding amount of the loan. The Government has so far released 18,458 crore credit linked subsidy to around 7.18 lakh beneficiaries.
“By March 2020, all the 1.12 crore houses will be sanctioned and 75 lakh houses will be grounded. 50 houses will be completed and 40-45 lakh houses occupied by beneficiaries in next five to six months,” officials said.