Livemint | More than 1 crore houses sanctioned under PMAY(U): Ten things to know

Dec 27,2019

The Centre on Friday approved construction of 6.5 lakh houses under Pradhan Mantri Awas Yojana (Urban), Modi government's affordable housing programme, thus taking the total number of houses being funded under the scheme to over 1 crore.

Addressing a press conference, Union Housing and Urban Affairs Minister Hardeep Singh Puri said in the next three-four months, the ministry will sanction all the 1.12 crore houses, a target set by the government, and deliver them to the beneficiaries by 2022.

Here are the ten essential things to be known from the latest update on PMAY(U).

1) A total of 57 lakh houses are in various stages of construction of which, nearly 30 lakh houses have been completed.

2) Compared to the earlier JNNURM scheme, PMAY (U) has achieved 10 times more in a span of 4.5 years, whereas the earlier scheme had taken 10 years to achieve a significantly less number.

3) The houses sanctioned so far under the Mission involve an investment of about ₹5.7 lakh crore with Central assistance of ₹1.6 lakh crore. The Central Government is contributing ₹1 Lakh to ₹2.67 Lakh for each house under different verticals of the scheme. As on date, nearly ₹60,000 crore of Central assistance has been released.

4) States/UTs are also contributing a substantial amount of ₹1-2 lakh on an average, which can go upto ₹6 lakh per house. Beneficiaries are also contributing their share in the range of ₹2 lakh to ₹5 lakh per house.

5) Currently, works of about ₹3 lakh crore are ongoing and by the time the Mission accomplishes its target of 1.12 crore houses, the entire activity will trigger an investment of more than ₹7 lakh crore.