Government Speeding up PMAY to meet Target of Housing for All by 2022

PSAY-2017
28th August 2017 | Category: Housing News

PM Narenra Modi has launched Pradhan Mantri Awas Yojana (PMAY) with an aim to provide affordable houses to 2 crore people of the country by 2022 while PMAY is far away to achieve its target. As per sources, 1,57,106 dwelling units have been constructed So far. Considering inconsistency in the construction of houses, government is planning to speed up construction work. A meeting was organized to consider this matter.

A different number of houses have been sanctioned in various states. Here we have prepared a list of states that are on the top or having high number of constructed houses under PM Awas Yojana.

Name of State No. of Houses
Gujarat 37,135 Houses
Karnataka 20,512 Houses
Maharashtra 11,503 Houses
Rajasthan 12,012 Houses
Tamil Nadu 19,454 Houses
West Bengal 11,077 Houses

Following states have got least number of houses constructed.

Name of State No. of Houses
Bihar 2,659 Houses
Chhattisgarh 1,970 Houses
Odisha 1,643 Houses
Uttarakhand 1,338 Houses
Haryana 1,070 Houses
Telangana 843 Houses
Kerala 595 Houses
Punjab 336 Houses
Himachal Pradesh 25 Houses

According to sources, 23.92 lakh houses have been sanctioned to be constructed all over the country along with a total of central assistance of Rs. 37,720 crore.

Government has associated with National Housing Bank (NHB), HUDCO and Public Sector Banks to encourage people towards CLSS (Credit Linked Subsidy Scheme). Here is the subsidy rates of interest mentioned in the below table:

Category Subsidy Interest Rate Eligibility Criteria
EWS & LIG 6.5%
MIG-I 4% interest subsidy on loan of Rs. 9 lakh for 20 year Annual Income of Rs. 6-12 lakh
MIG-II 3% interest subsidy on loan of Rs. 12 lakh Annual Income of Rs. 12-18 lakh

By speeding p the construction of houses government is trying to meet the target of houses by 2022.

Source: http://www.newindianexpress.com/nation/2017/aug/28/365-units-built-per-day-against-target-of-11000-under-housing-for-all-scheme-1648970.html

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