Sarvbhomik Kifayati Awas Yojana – According to the Central Government of India, Sarvbhomik Kifayati Awas Yojana will boost the construction industry and in the next three years, 1.2 Crore affordable housing units will be constructed under the urban component of PMAY, whereas under its rural component a total number of 1.02 crore housing units will be constructed by March of 2019. Finance Secretary Ashok Lavasa said in the presence of Finance Minister Arun Jaitley after the Union Cabinet meeting that the Sarvbhomik Kifayati Awas Yojana would give a boost to the manufacturing industry.
Details of Sarvbhomik Kifayati Awas Yojana
Lavasa said 1.2 Crore affordable housing units would be constructed under the Pradhan Mantri Awas Yojana (PMAY-Urban), on which Rs 1,85,069 crore would be spent in the next three years. He said that 1.02 crore houses would be constructed under PMAY (Rural), on which the Central Government and the State Government will spend Rs.1,26,795 crore by March, 2019. Lavasa said that 51 lakh houses of these will be completed this year.
The government had announced a new PPP (Public Private Partnership) policy last month for affordable housing, under which the help of Rs 2.5 lakh per house would be provided by the central government for private houses constructed by private builders.