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Union Cabinet Approves Extension of PMAY-Urban Till Dec 31, 2024

Union Cabinet Approves Extension of PMAY-Urban Till Dec 31, 2024

The Pradhan Mantri Awas Yojana (Urban) has been extended till December 2024, as decided by the Union Cabinet on Wednesday. The Housing for All’ Mission was first introduced in June 2015, with a March 2022 completion date set for its goal of providing pucca dwellings to all qualified urban beneficiaries. Till March 31, 2022, 122.69 lakh residences that have already been approved for construction would be completed with financial support, the government claims.

In response to requests from states and union territories, the Union Cabinet decided to prolong the PMAY-Urban implementation period until December 31, 2024, according to a statement. The Modi administration focused on the need to build homes for all qualified urban residents in saturation mode and created the PMAY-Urban programme.

The initial anticipated demand for 2017 was 100 lakh homes. According to the statement, 102 lakh dwellings have been built or are being built in response to this demand. Furthermore, 62 lakh of these dwellings have been finished. Out of the 123 lakh dwellings that were approved, bids for 40 lakh homes were received from the states and UTs after the programme had already started, and they will take a another two years to build.

Accordingly, the Union Cabinet agreed to prolong the PMAY-U implementation period until December 31, 2024 in response to pleas from the states and UTs, the statement said. Central government approved Rs 2.03 lakh crore since 2015 against Rs 20,000 crore in 2004-2014.

On March 31, 2022, central subsidy of Rs 1,18,020.46 crore was already released and Rs 85,406 crore will be released till December 31, 2024.

Beneficiary Led Construction/Enhancement (BLC), Affordable Housing in Partnership (AHP), In-Situ Slum Redevelopment (ISSR), and Credit Linked Subsidy Scheme are the four verticals that make up the implementation of the programme (CLSS). According to the statement, state and UTs carry out the scheme’s implementation, including beneficiary selection, while the federal government provides financial help.

Source

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