Centre to bring supplementary guidelines for housing scheme

Earlier this year, Naidu had stated that there was poor response from private builders for the affordable housing schemes in almost all states.

By: ENS Economic Bureau | New Delhi | Published: June 14, 2017 2:24 am
Pradhan Mantri Awas Yojna, affordable housing, Venkaiah Naidu, Union Budget 2017, business news, indian express news Minister of housing and urban poverty alleviation Venkaiah Naidu

The Centre would soon come out with supplementary guidelines for the Pradhan Mantri Awas Yojna -Urban to enable affordable housing in partnership with the private sector, minister of housing and urban poverty alleviation Venkaiah Naidu said on Monday. This model will involve private builders entering into a partnership with the government to construct affordable housing, he added.

Earlier this year, Naidu had stated that there was poor response from private builders for the affordable housing schemes in almost all states. The government had granted infrastructure status to the segment in the Union Budget 2017.

In April, the Prime Minister’s office had called a meeting to review the government’s affordable housing programme as it targets to achieve ‘Housing for All’ by 2022. Realtors’ body Credai and Naredco were also called to understand the problems faced by the developers in launching affordable housing projects.

The NDA government has approved construction of 20,25,573 houses under PMAY-Urban in three years (2014-15) compared to 12,40,904 houses by UPA government during 2004-2014. “The housing sector will get a fillip in the coming days with the Real Estate Regulation (and development) Act,” Naidu said.

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