Indian govt increases EWS income slab for Affordable Housing in Mumbai
Real Estate

Indian govt increases EWS income slab for Affordable Housing in Mumbai

The Indian government has announced a significant measure aimed at improving the living conditions of the urban poor. As part of the Pradhan Mantri Awas Yojana - Urban (PMAY-U) initiative, the income slab for the Economically Weaker Section (EWS) category will be increased from Rs 3 lakhs to Rs 6 lakhs for housing schemes in the Mumbai Metropolitan Region (MMR).

This decision comes in response to a letter from the Maharashtra government, which requested that the union government raise the income criterion for the EWS category in the affordable Housing in partnership (AHP) vertical of PMAY-U projects in the metropolitan region.

The primary objective of increasing the income slab is to expand the eligibility and accessibility of affordable housing for individuals belonging to the EWS category. This move will enable more people in the EWS category to benefit from housing lotteries announced by the Maharashtra Housing and Area Development Authority (MHADA) in the region.

In the recent lottery draw conducted by MHADA for 4,082 homes in Mumbai, over 1.45 lakh applications were received, and more than 1.19 lakh applicants have already paid the earnest money deposit. Out of these, a total of 23,773 applications were received for the 1,947 houses offered under the PMAY scheme.

The PMAY mission was launched by the government in June 2015 with the aim of providing housing for all. Under this scheme, the central government provides assistance to implementing agencies, including states, Union Territories (UTs), and Central Nodal Agencies (CNAs), to provide houses to eligible families and beneficiaries.

Through the affordable housing in partnership program, the central government offers a subsidy of Rs 1.5 lakh per dwelling unit. The AHP vertical approves housing projects with a minimum of 250 houses, of which at least 35 per cent need to be reserved for the EWS category. 

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Indian government has announced a significant measure aimed at improving the living conditions of the urban poor. As part of the Pradhan Mantri Awas Yojana - Urban (PMAY-U) initiative, the income slab for the Economically Weaker Section (EWS) category will be increased from Rs 3 lakhs to Rs 6 lakhs for housing schemes in the Mumbai Metropolitan Region (MMR).This decision comes in response to a letter from the Maharashtra government, which requested that the union government raise the income criterion for the EWS category in the affordable Housing in partnership (AHP) vertical of PMAY-U projects in the metropolitan region.The primary objective of increasing the income slab is to expand the eligibility and accessibility of affordable housing for individuals belonging to the EWS category. This move will enable more people in the EWS category to benefit from housing lotteries announced by the Maharashtra Housing and Area Development Authority (MHADA) in the region.In the recent lottery draw conducted by MHADA for 4,082 homes in Mumbai, over 1.45 lakh applications were received, and more than 1.19 lakh applicants have already paid the earnest money deposit. Out of these, a total of 23,773 applications were received for the 1,947 houses offered under the PMAY scheme.The PMAY mission was launched by the government in June 2015 with the aim of providing housing for all. Under this scheme, the central government provides assistance to implementing agencies, including states, Union Territories (UTs), and Central Nodal Agencies (CNAs), to provide houses to eligible families and beneficiaries.Through the affordable housing in partnership program, the central government offers a subsidy of Rs 1.5 lakh per dwelling unit. The AHP vertical approves housing projects with a minimum of 250 houses, of which at least 35 per cent need to be reserved for the EWS category. 

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement