Pradhan Mantri Awas Yojana – 24000 Affordable Houses Sanctioned for Tamil Nadu
Pradhan Mantri Awas Yojana Tamil Nadu
The Central Government of India has approved 24,576 housing units under the Pradhan Mantri Awas Yojana (Urban) for Tamil Nadu, the second highest number of affordable houses in the latest allocation after Madhya Pradesh with 57,131 houses.
The housing and urban poverty alleviation (HUPA) ministry has approved the construction of 18.75 lakh houses for EWS (economically weaker sections) in 2,151 cities and towns since 2015.
Developers and real estate experts stressed the need for engaging the private sector and providing a subsidy for the success of the ambitious scheme. The director of Knight Frank (India) Pvt. Ltd, Chennai Mr. Kanchana Krishnan said there was a gigantic demand for affordable housing and the move was very encouraging.
Chennai Real Estates Agents Association’s Chandrasekar Kaliamurthy said that the scheme is expected to get a subsidy in the near future. Although he pointed out, only contractors, not developers, may be part of the construction projects under the program in the state.
Tamil Nadu is in the second position in the overall list of states with more than 2.52 lakh houses with a total project cost of 9,112 crores.
P Suresh, managing director of Arun Excello Group of Companies which focuses on the affordable housing segment, said the scheme required private participation to achieve the target in Tamil Nadu.
He said that the target year for housing for all is 2022 and it would be a challenge for the state government unless it engages private developers. Moreover, construction material such as cement, sand and land must be offered at subsidized rates akin to Telangana to attract private developers to actively engage in the national scheme in the state.
News Source: http://realty.economictimes.indiatimes.com/news/residential/24000-houses-to-be-built-in-tamil-nadu-under-central-scheme/58392254