+
PMAY-Urban's second phase is to be launched soon
Real Estate

PMAY-Urban's second phase is to be launched soon

Officials stated that the second phase of Pradhan Mantri Awas Yojana (Urban) would soon be launched, with the allocation for the scheme expected to be made in the Union budget the following month. An official from the Union Housing and Urban Affairs Ministry mentioned that the modalities of PMAY-U 2.0 were currently under development, with the second phase scheduled for launch within a month.

According to the official, the plan is to construct over 10 million houses in urban areas, aiming to extend assistance to a greater number of urban families. "The upcoming phase of the scheme will be launched soon, building upon the insights gained from the first phase of PMAY-U and focusing on improved targeting and expedited disbursement," the official added.

Another official indicated that PMAY-U 2.0 is expected to encompass three categories: the economically weaker section (EWS), the low-income group (LIG), and the middle-income group (MIG). In its first meeting under the chairmanship of Prime Minister Narendra Modi on June 10, the Union Cabinet of the Modi 3.0 government approved government support for the construction of 30 million houses under PMAY.

PMAY-U was inaugurated by Modi on June 25, 2015, with the vision of 'Housing for All'. According to the ministry, over the course of nine years, PMAY-U has significantly impacted the lives of millions of families, for whom owning a pucca house was once only a distant aspiration. The government has been implementing PMAY since 2015-16 to provide assistance to eligible rural and urban households for constructing houses with basic amenities.

The ministry stated that out of the 11.4 million houses grounded for construction, more than 8.4 million have already been completed and delivered to beneficiaries. As part of the scheme, 9.4 million houses have been registered in the name of women. Additionally, around 2.5 million houses are under the Credit Linked Subsidy Scheme, one of the scheme's four verticals, according to an official.

"The PMAY-U promotes women's empowerment by facilitating home ownership in the name of female members or jointly. Over 9.4 million houses have been allocated in the name of women, thereby granting them a sense of identity," the ministry affirmed. It also highlighted that PMAY-U advocates for the adoption of new construction technologies on a large scale. The Light House Projects (LHPs) in six locations across the country exemplify the promotion of affordable housing projects constructed using innovative technologies, which can be replicated nationwide.

The ministry noted that the LHPs in Chennai, Rajkot, Indore, Lucknow, and Ranchi have already been inaugurated by the prime minister, while construction in Agartala is progressing well towards completion.

Officials stated that the second phase of Pradhan Mantri Awas Yojana (Urban) would soon be launched, with the allocation for the scheme expected to be made in the Union budget the following month. An official from the Union Housing and Urban Affairs Ministry mentioned that the modalities of PMAY-U 2.0 were currently under development, with the second phase scheduled for launch within a month. According to the official, the plan is to construct over 10 million houses in urban areas, aiming to extend assistance to a greater number of urban families. The upcoming phase of the scheme will be launched soon, building upon the insights gained from the first phase of PMAY-U and focusing on improved targeting and expedited disbursement, the official added. Another official indicated that PMAY-U 2.0 is expected to encompass three categories: the economically weaker section (EWS), the low-income group (LIG), and the middle-income group (MIG). In its first meeting under the chairmanship of Prime Minister Narendra Modi on June 10, the Union Cabinet of the Modi 3.0 government approved government support for the construction of 30 million houses under PMAY. PMAY-U was inaugurated by Modi on June 25, 2015, with the vision of 'Housing for All'. According to the ministry, over the course of nine years, PMAY-U has significantly impacted the lives of millions of families, for whom owning a pucca house was once only a distant aspiration. The government has been implementing PMAY since 2015-16 to provide assistance to eligible rural and urban households for constructing houses with basic amenities. The ministry stated that out of the 11.4 million houses grounded for construction, more than 8.4 million have already been completed and delivered to beneficiaries. As part of the scheme, 9.4 million houses have been registered in the name of women. Additionally, around 2.5 million houses are under the Credit Linked Subsidy Scheme, one of the scheme's four verticals, according to an official. The PMAY-U promotes women's empowerment by facilitating home ownership in the name of female members or jointly. Over 9.4 million houses have been allocated in the name of women, thereby granting them a sense of identity, the ministry affirmed. It also highlighted that PMAY-U advocates for the adoption of new construction technologies on a large scale. The Light House Projects (LHPs) in six locations across the country exemplify the promotion of affordable housing projects constructed using innovative technologies, which can be replicated nationwide. The ministry noted that the LHPs in Chennai, Rajkot, Indore, Lucknow, and Ranchi have already been inaugurated by the prime minister, while construction in Agartala is progressing well towards completion.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?