PM Awas Yojana – Builders Get Discounts of One Extra Floor
PM Awas Yojana – In order to provide affordable houses to the urban poor, the government has made the builders in return for making housing units for the poor, to emphasize the construction of affordable homes under the Pradhan Mantri Awas Yojana (Urban). Additional floor approval may be approved for the builders. The goal of the government is to provide cheap houses to the poor in this scheme and also to increase the trend of private sector builders. A draft has been prepared for this.
Construction will also be Done on Private Sector Land
According to the proposal prepared in this regard, the government is now working on the scheme of the introduction of Affordable Housing Project under the Prime Minister’s Housing (Urban) scheme on private sector land. Under this, government private land owners will take land and in return, they will be compensated. According to this, the government will also provide land to private builders in the second place as well as increase the floor area ratio. Not only that, the process of single window system will be adopted to complete this process on behalf of the government.
Subsidy on stamp duty and Charges under PM Awas Yojana
Under the scheme, there is a proposal to provide land builders for multi-storey apartments in one part of the city and in return, they have to make the premises of affordable houses in second place. Private developers will provide land to the government in this case. These are some of the options which the Ministry of Housing has put in its draft policy for public-private partnership (PPP) for the PMAI scheme in the public sector. The Ministry has also proposed policies to allow private land to build affordable housing. Under this model, private developers will provide land. In this case, in addition to allowing the highest FAR to government officials, subsidy will be given on stamp duty and charges for external and internal development. Private developers will be allowed to encourage such housing units to be built.
Read More: PMAY – Apply Online
Identity of Allotment under draft under PM Awas Yojana
According to the draft policy, taxation benefits under section 80-IBA of the Act can also be made available to the developer, subject to fulfillment of other pre-requisites. In this case, the private developer will be charged directly from the cost, either in the form of a lump sum payment at the time of transfer of the housing unit or EMI. The developer will also recover a portion of the cost through subsidies and other concessions provided by the government. In all cases, government authorities will identify allotments because they will be entitled to interest subsidy from the government. According to the policy, the role of private builders will be eliminated as soon as it will keep complete housing units and the residents’ union will manage matters day by day.