The government has announced that it has sanctioned more than 51 lakh houses under PMAY (Pradhan Mantri Awas Yojana) Urban during the last 3 years. The application for the benefit was received from 1 crore individuals.
The Ministry of Housing said in a statement that this is commendable achievement when compared to the existing housing scheme. In the erstwhile housing programme, approval has been provided for only 12.4 lakh houses in 9 years following the implementation of the scheme.
Amongst the 51 lakh houses that have been sanctioned, more than 28 lakh units are under construction. Reports also suggest that more than 8 lakh houses have been completed. Further, 8 lakh houses are currently being occupied by the beneficiaries under the scheme.
PMAY offers central assistance to Urban Local Bodies (ULBs) and all other implementing authorities for the rehabilitation of slum dwellers. Credit linked subsidies, affordable houses through partnerships, and subsidies for individual house enhancement/construction are some of the benefits offered by the scheme.
The government has now come up with a plan for global housing construction technology that would help in building affordable homes.
The proposed Global Housing Construction Technology Challenge (GHTC-I) may be able to leverage the use of technology that is suitable for local conditions. This move would also be beneficial in the overall growth of construction technology in the country, and help in building sustainable and affordable houses.
The government has also stated that it is committed to providing “Housing for All” by 2022, which is when the mission period ends. For the accelerated implementation of the Pradhan Mantri Awas Yojana (PMAY), a National Urban Housing Fund has been set up for Rs.60,000 crore. This fund will raise Extra Budgetary Resources (EBR) in multiple phases for the execution of PMAY (U).