Centre allocates Rs 48k cr for 80 lakh homes construction under PMAY
Real Estate

Centre allocates Rs 48k cr for 80 lakh homes construction under PMAY

On Tuesday, Finance Minister Nirmala Sitharaman declared the allocation of a whopping Rs 48,000 crore for the completion of 80 lakh homes under the Pradhan Mantri Awas Yojana (PMAY), both rural and urban, during the coming fiscal year.

In her budget speech, the minister said that in 2022-23, 80 lakh homes will be achieved for the recognised qualified beneficiaries of PM Awas Yojana, both rural and urban. Rs 48,000 crore is allotted for this goal.

The Centre would work with states for reduction of time needed for all land and construction-related permissions, for encouraging affordable housing for middle-class and Economically Weaker Sections (EWS) in urban regions, she said.

They shall additionally work with the financial sector regulators to boost access to capital along with a reduction in the cost of intermediation. For better land records management, Sitharaman said that the states will be uplifted to adopt Unique Land Parcel Identification Number (ULPIN) to boost IT-based management of records.

The facility for transliteration of land records across any of the Schedule VIII languages will additionally be launched.The adoption or linkage with National Generic Document Registration System (NGDRS) with the 'One-Nation One-Registration Software' will be encouraged as an option for a uniform process for listing and 'anywhere registration' of deeds and documents.

On Monday, the economy survey emphasised that 33.99 lakh homes were achieved in 2020-21 and 26.20 lakh units as of November 25, 2021, under the Pradhan Mantri Awas Yojana - Gramin (PMAY-G) programme. For the Pradhan Mantri Awas Yojana - Urban (PMAY-U), the survey reported that 14.56 lakh homes were achieved in FY21. In 2021-22, 4.49 lakh homes were attained till December 2021.

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Also read: Govt nods 3.16 lakh houses in 17 states and UTs under PMAY

On Tuesday, Finance Minister Nirmala Sitharaman declared the allocation of a whopping Rs 48,000 crore for the completion of 80 lakh homes under the Pradhan Mantri Awas Yojana (PMAY), both rural and urban, during the coming fiscal year. In her budget speech, the minister said that in 2022-23, 80 lakh homes will be achieved for the recognised qualified beneficiaries of PM Awas Yojana, both rural and urban. Rs 48,000 crore is allotted for this goal. The Centre would work with states for reduction of time needed for all land and construction-related permissions, for encouraging affordable housing for middle-class and Economically Weaker Sections (EWS) in urban regions, she said. They shall additionally work with the financial sector regulators to boost access to capital along with a reduction in the cost of intermediation. For better land records management, Sitharaman said that the states will be uplifted to adopt Unique Land Parcel Identification Number (ULPIN) to boost IT-based management of records. The facility for transliteration of land records across any of the Schedule VIII languages will additionally be launched.The adoption or linkage with National Generic Document Registration System (NGDRS) with the 'One-Nation One-Registration Software' will be encouraged as an option for a uniform process for listing and 'anywhere registration' of deeds and documents. On Monday, the economy survey emphasised that 33.99 lakh homes were achieved in 2020-21 and 26.20 lakh units as of November 25, 2021, under the Pradhan Mantri Awas Yojana - Gramin (PMAY-G) programme. For the Pradhan Mantri Awas Yojana - Urban (PMAY-U), the survey reported that 14.56 lakh homes were achieved in FY21. In 2021-22, 4.49 lakh homes were attained till December 2021. Image Source Also read: Govt nods 3.16 lakh houses in 17 states and UTs under PMAY

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