Pradhan Mantri Awas Yojana Progress UPDATE – The progress of Pradhan Mantri Awas Yojana (urban) can be measured on the basis of the fact that out of 40.65 lakh houses sanctioned, 18.47 lakh houses’ foundation has been laid and the construction of 3.5 lakh houses has been completed. Apart from this, construction of 1.7 lakh houses has been completed till March 2014 and houses sanctioned under JNNURM. The total number of houses constructed in this way has touched the figure of 5.2 lakhs.
Pradhan Mantri Awas Yojana Progress UPDATE
In addition, the number of houses sanctioned by the government in last one year is 21.65 lakhs. Residential projects typically take 18 to 24 months to complete the construction process. Therefore, the foundation for building the house is considered to be the true sign of real and physical progress of the schemes at the grassroots level. Of the houses which have been started for construction, 55% of the houses have been started at the initial level, 12% of the houses are constructed at the foundation level and the construction of the remaining houses is in different stages of completion. The actual speed of the scheme was taken in October 2016 and after the partnership and tender related activities with the stakeholders, construction work is continuing since 2017.
For the purpose of special emphasis on the speed of implementation of this scheme, a focused ecosystem for economical housing (whose one important part is PMAY (U)) is being focused, providing structural status, simplification of the FDI process , Introduction of PPP model, implementation of new modern and innovative manufacturing technologies, interest subsidy under ‘CLSS’ for MIG Increasing the carpet area of the houses considered eligible for development and increasing coverage of areas under PMAY (U). The GST rate has also been reduced from 12 percent to 8 percent for the houses manufactured or acquired under the PMSS section of PMHA-U, which covers EWS, LIG, MIG I and MIG II, and it is 25 percent. Effective January, 2018.
Thanks to these measures, the Pradhan Mantri Awas Yojana (urban) is moving forward in the right direction. Over 3 lakh houses are being sanctioned under the Pradhan Mantri Awas Yojana (urban) every month and its work is progressing faster than earlier projects.
Details of Pradhan Mantri Awas Yojana Progress UPDATE
- During the 7-year mission period of JNNURM, 12.41 lakh housing units were approved; In less than 3 years, the number of houses sanctioned under PMAY (U) has already more than three times (40.65 lakh houses)
- The rate of completion of construction of houses under PMAY (U) is approximately 14,252 houses per month, whereas this figure was only 8,333 houses per month under the earlier scheme.
- In the preceding interest subsidy scheme (ISHUP / RRY), only 22.50 crore rupees were issued to 18,166 loan accounts, whereas during PMAY (U), the number of beneficiaries was 5 times (91,694) and interest subsidy was more than 82 times (185.5 million) Rupees).
Under the scheme, the Center has released Rs. 13,582 crore as assistance to the States / Union Territories. For the purpose of quick implementation of PMAY (U), for the purpose of raising budgetary resources (EBRs) in various phases, for the approval of the Central Government last month to form a National Urban Housing Fund for Rs 60,000 crore in the Ministry, the States / UTs An appropriate arrangement has been made to ensure continuous funding.
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