CM Jagan Mohan Reddy to Launch Amaravati Housing Project
Real Estate

CM Jagan Mohan Reddy to Launch Amaravati Housing Project

Chief minister YS Jagan Mohan Reddy will lay foundation stone for the housing project in Amaravati on Monday. The state government has granted house sites to about 50,000 families in the capital city in the newly created R-5 zone. The state government is going ahead with the work even as the high court reserved the verdict on a petition challenging the construction of houses in R-5 zone.

State government has taken the issue of construction of houses for the poor in Amaravati as its prestige to make it a political agenda in the coming elections. The state government has already finalized the contractors for taking up the construction work as it has accepted the request of the beneficiaries to get them constructed by the government.

Interestingly, the Centre, which has given green signal for the Amaravati housing project, has made it clear that it would release the financial assistance under PMAY only after clearing all the legal hurdles. The Centre is giving Rs 1.5 lakh to each housing unit under PMAY. In fact, the houses for the eligible poor in all the YSR-Jagananna colonies are being completely centrally sponsored as the state is giving just around Rs 30,000 as additional incentive for the beneficiaries in urban areas. While Rs 30,000 is being drawn from the NREGS for the rural beneficiaries, 30,000 will be secured as loan from the banks.

As the Centre refused to release the financial assistance at this juncture, the state government has decided to launch the works through contractors by giving them advance payment from the state's share of Rs 30,000 per unit. All the housing units will be constructed with Shear Wall Technology where the prefabricated walls will be used to complete the house. This is expected to help the government complete the entire massive project in a span of just 6-7 months.

See also:
Affordable housing sales in seven major cities fall 18% in Jan-Jun
Long-awaited EWS housing project finally begins in Mohali


Chief minister YS Jagan Mohan Reddy will lay foundation stone for the housing project in Amaravati on Monday. The state government has granted house sites to about 50,000 families in the capital city in the newly created R-5 zone. The state government is going ahead with the work even as the high court reserved the verdict on a petition challenging the construction of houses in R-5 zone. State government has taken the issue of construction of houses for the poor in Amaravati as its prestige to make it a political agenda in the coming elections. The state government has already finalized the contractors for taking up the construction work as it has accepted the request of the beneficiaries to get them constructed by the government. Interestingly, the Centre, which has given green signal for the Amaravati housing project, has made it clear that it would release the financial assistance under PMAY only after clearing all the legal hurdles. The Centre is giving Rs 1.5 lakh to each housing unit under PMAY. In fact, the houses for the eligible poor in all the YSR-Jagananna colonies are being completely centrally sponsored as the state is giving just around Rs 30,000 as additional incentive for the beneficiaries in urban areas. While Rs 30,000 is being drawn from the NREGS for the rural beneficiaries, 30,000 will be secured as loan from the banks. As the Centre refused to release the financial assistance at this juncture, the state government has decided to launch the works through contractors by giving them advance payment from the state's share of Rs 30,000 per unit. All the housing units will be constructed with Shear Wall Technology where the prefabricated walls will be used to complete the house. This is expected to help the government complete the entire massive project in a span of just 6-7 months. See also: Affordable housing sales in seven major cities fall 18% in Jan-Jun Long-awaited EWS housing project finally begins in Mohali

Next Story
Building Material

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Next Story
Technology

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

Next Story
Infrastructure Urban

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?