News Brief
Over 37.5 Lakh Houses Sanctioned For Economically Weaker Section In Last Two Years Under PM Awas Yojana-Urban: Govt
Affordable Rental Housing Complexes (ARHC) project, is a sub-scheme under Pradhan Mantri Awas Yojana (Urban) (representative image)
Over 37.5 lakh houses were sanctioned during last two years under the Pradhan Mantri Awas Yojana-Urban (PMAY-U)For Economically Weaker Section (EWS), the government told the Parliament.
The houses were sanctioned under three verticals; “In-situ” Slum Redevelopment (ISSR), Affordable Housing in Partnership (AHP) and Beneficiary Led individual house Construction or Enhancement (BLC).
Of the total 37.57 lakh houses, 28.99 lakh have been grounded for construction and 18.50 lakh houses have been completed, Union Minister of State for Housing and Urban Affairs Kaushal Kishore said in a written reply in the Rajya Sabha on Wednesday (28 July).
Besides, under Credit Linked Subsidy Scheme (CLSS) vertical of PMAY-U, 5.81 lakh EWS beneficiaries have availed the benefit of interest subsidy, the minister said.
Under ISSR and AHP vertical of PMAY-U, private partnership is envisaged for construction of affordable houses for EWS category and under CLSS vertical interest subsidy is provided on housing loan.
The minister further added that government has taken various initiatives to boost the affordable housing.
The measures include granting of infrastructure status to affordable housing to enable cheaper loan, reduction in Goods and Services Tax on under-construction affordable housing projects from 8 per cent to 1 per cent without Input Tax Credit, increase in priority sector lending for affordable housing project from Rs 28 lakh to Rs 35 lakh in metros and from Rs 20 lakh to Rs 25 lakh in non-metros, among others.
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