Cabinet clears 3 crore additional houses under PM housing scheme

As per the official statement, the Union Cabinet approved the proposal of the Department of Rural Development for “implementation of PMAY-G during FY 2024-25 to 2028-29” wherein financial assistance is to be provided for the construction of two crore more houses at existing unit assistance of Rs 1.20 lakh in plain areas and Rs 1.30 lakh in northeastern region states and hill states of Himachal Pradesh, Uttarakhand, Union Territories of Jammu and Kashmir and Ladakh.

The Centre had launched the PMAY-G from April 2016 with an aim to construct 2.95 crore houses by March 2024.

“Continuation of the Pradhan Mantri Awaas Yojana–Gramin for saturating the Awaas+ (2018) list (after updation) and balance eligible households in Socio Economic Caste Census (SECC) 2011 Permanent Wait List (PWL) by providing assistance within overall ceiling of 2 crore pucca houses with basic amenities from April, 2024 to March, 2029,” the statement said.

“Total outlay of Rs 3,06,137 crore for FY 2024-25 to 2028-29, including Central share of Rs 2,05,856 crore and State Matching Share of Rs.1,00,281 crore… Continuation of the scheme beyond March, 2026 after evaluation of the PMAY-G by the NITI Aayog and re-appraisal of the scheme by EFC. Updating Awaas+ list for identifying eligible rural households using modified exclusion criteria. Unit cost of assistance to beneficiaries to continue at existing rates of Rs 1.20 lakh in plain areas and Rs 1.30 lakh in North Eastern Region/ Hill States,” the statement said.

As per the statement, the remaining 35 lakh incomplete houses till March 2024 would be completed to achieve the cumulative target of 2.95 crore houses of the previous phase. “Now, two crore more houses will be constructed under the PMAY-G during next five years from FY 2024-2029 to address housing need arisen over the years. Construction of houses for two crore more households is expected to benefit nearly 10 crore individuals,” it said.

As reported by The Indian Express earlier, the NDA government in its first Cabinet meeting, on June 9, had decided to construct 3 crore additional houses under the PMAY rural and urban.

Vaishnaw said the Central government’s share of the schemes would be Rs 2.05 lakh crore for rural and Rs 1.60 lakh crore for urban for a period of five years, while the states’ share would be Rs 1.02 lakh crore and Rs 70,000 crore respectively. “The scheme will be implemented immediately. It is among the first decisions of the Prime Minister [in third term],” he said.

The PMAY-Urban 2.0 scheme aims to construct 1 crore new homes through four verticals — beneficiary-led construction, in which financial assistance would be provided to EWS families to build homes on their own land; affordable housing in partnership, which will give aid to EWS families buy houses constructed by states or private agencies; affordable rental housing, in which rental housing units for industrial workers and working women hostels will be made; and interest subsidy scheme, in which EWS, LIG and MIG families taking loans of up to Rs 25 lakh will get 4% interest subsidy.

Central assistance of up to Rs 1.80 lakh would be provided in five yearly instalments to each beneficiary under the interest subsidy scheme.