NEW DELHI, August 10 (IANS) The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the extension of the government’s flagship housing program Pradhan Mantri Awas Yojana-Urban (PMAY-U) until 2024.
The Cabinet approved the Department of Housing and Urban Affairs (MoHUA) proposal that financial support should be provided for the completion of the approved 122.69 lakh houses by 31 March 2022.
Housing for All is one of the government’s flagship programs to provide all beneficiaries with permanent, all-weather housing in urban areas across the country.
In 2017, the projected initial demand is 100 lakh houses. Against this originally estimated demand, 102,000 houses are under construction and 62,000 houses have been completed.
A senior official said that out of a total of 123 lakh houses approved, proposals of 40 lakh houses were delayed (in the last two years of the program) by the state/UT, which would take another two years to complete. Therefore, at the request of the Union/UT, the Trade Union Cabinet decided to extend the PMAY-U implementation period until 2024.
The program is implemented in four sectors including Beneficiary Led Construction (BLC), Affordable Housing in Partnership (AHP), In-Situ Slum Reconstruction (ISSR) and Credit Linked Subsidy Scheme (CLSS).
While the center provides financial support, the state/UT implements the program, including selecting beneficiaries.
Between 2004 and 2014, 8.04 lakh houses were completed under the Urban Housing Scheme. Under Modi’s administration, the issue of providing housing for all eligible city dwellers in saturation mode became the focus and the PMAY urban program was drafted.
The approved center support since 2015 is Rs 2.03 crore against Rs 20,000 crore in 2004-2014. Until 31 March 2022, the central support/subsidy will be Rs 1,18,020.46 crore and Rs 85,406 billion paid by 31 December 2024.
Continuing the state/UT on-demand program through 2024 will support approved home completions in the BLC, AHP, and ISSR verticals.