The Prime Minister Narendra Modi-led Union cabinet on Wednesday has approved the proposal for the continuation of Pradhan Mantri Awas Yojana-Urban (PMAY-U) up to 31 December 2024.
Under the programme, financial assistance is to be provided for the completion of already sanctioned 122.69 lakh houses till 31 March 2022.
As per the Union Ministry, the continuation of the PMAY-U scheme is based on the request of States/UTs which will help in the completion of already sanctioned houses under several schemes.
Housing for All is one of the major flagship programmes being implemented by the Government of India to provide all-weather pucca houses to all eligible beneficiaries in the urban areas of the country through States/UTs/Central Nodal Agencies.
The scheme is being implemented through four verticals: Beneficiary Led Construction/ Enhancement (BLC), Affordable Housing in Partnership (AHP), In-situ Slum Redevelopment (ISSR), and Credit Linked Subsidy Scheme (CLSS).
According to the Ministry of Housing and Urban Affairs (MoHUA), during the period 2004-2014, 8.04 lakh houses were completed under Urban Housing Scheme.
“In 2017, the original projected demand was 100 lakh houses. Against this original projected demand, 102 lakh houses have been grounded/under construction. Further, out of these 62 lakh houses have been completed,” said MoHUA.
It further informed that out of the total sanctioned 123 lakh houses, the proposals of 40 lakh houses were received late (during the last 2 years of the scheme) from the States/UTs which require another two years to complete them.
“Therefore, based on the requests from the States/UTs, Union Cabinet decided to extend the implementation period of PMAY-U till 31 December 2024,” stated Union Ministry.