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Cabinet favors expanding PMAY-Urban till December 2024
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The Union Cabinet has approved the continuation of Pradhan Mantri Awas Yojana-Urban (PMAY-U) up to 31 December 2024 with all the verticals, except Credit Linked Subsidy Scheme (CLSS) vertical . https://www.gruhfin.com/ CLSS vertical for EWs/LIG up to 31 March 2022.
The funding pattern and implementation methodology of the scheme will remain the same. During the extended period, no additional houses will be sanctioned. However, within an overall ceiling of 122.69 lakh houses sanctioned till 31 March 2022, States/Union Territories may be sanctioned houses under BLC vertical against the curtailment of non-starter houses under BLC, AHP, and ISSR verticals of PMAY-U.
The scheme was launched in 2015 with the aim of constructing over 1.12 crore homes in urban areas by August 15, 2022. https://www.gruhfin.com/ The Cabinet approved an extension till December 31, 2024 so that the houses already sanctioned are completed, a government statement said.
The proposal of the Ministry of Housing and Urban Affairs to extend the time frame for the Pradhan Mantri Awas Yojana-Urban (PMAY-U) up till December 31, 2024, has been approved by the Union Cabinet, which is chaired by Prime Minister Narendra Modi. The financial assistance till March 31, 2022, will be given for completing the 122.69 lakh residences that have already been approved, the government claimed.
PMAY-U Housing for All is a major flagship program being implemented by the government to provide all-weather pucca houses to all eligible beneficiaries in the urban areas across the country.
The declaration expressed that during 2004-14, 8.04 lakh houses were finished under the metropolitan lodging plan. Under the Prime Minister Narendra Modi-drove government, the issue of giving houses to all qualified metropolitan tenants in the immersion method was brought into the center and the plan of PMAY-Urban was conceptualized. In 2017, the first projected request was 100 lakh houses.
“Against this unique projected request, 102 lakh houses have been grounded/under development. Further, out of these, 62 lakh houses have been finished. Out of the all-out authorized 123 lakh houses, the proposition of 40 lakh houses was gotten late (during the most recent two years of the plan) from the states/UTs which require an additional two years to finish them. In this way, in light of the solicitations from the states/UTs, the Union Cabinet chose to broaden the execution time of PMAY-U till December 31, 2024,” as per the assertion.
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It added that the focal help supported beginning around 2015 is Rs 2.03 lakh crore against Rs 20,000 crore in 2004-14. Up to March 31, a focal help/endowment of Rs 1,18,020.46 crore has previously been delivered and Rs 85,406 crore will be delivered as focal help/sponsorship till December 31, 2024.
“The continuation of the plan given the solicitation of States/UTs up to December 31, 2024, will help in the fulfillment of currently authorized houses under BLC, AHP, and ISSR verticals,” it said.
The Pradhan Mantri Awas Yojana-Urban covers the whole metropolitan region of the nation, i.e., all legal towns according to Census 2011 and towns advised hence, including informed arranging/advancement regions. The plan is being carried out through four verticals: Beneficiary-Led Construction/Enhancement (BLC), Affordable Housing in Partnership (AHP), In-sit the determination of recipients."