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Launched in June, 2015, the unique deadline for the scheme – ‘Housing for All‘ Mission – geared toward offering pucca homes to all eligible city beneficiaries was March 2022.
In response to the federal government, monetary help can be offered for the completion of already sanctioned 122.69 lakh homes until March 31, 2022.
Primarily based on the request of states and Union territories, the Union Cupboard, chaired by Prime Minister Narendra Modi, determined to increase the implementation interval of PMAY-City until December 31, 2024, the assertion said.
Beneath the Modi authorities, the difficulty of offering homes to all eligible city dwellers in saturation mode was introduced into focus and the scheme of PMAY-City was conceptualised, it stated.
In 2017, the unique projected demand was 100 lakh homes. In opposition to this demand, 102 lakh homes have been grounded/below development, the assertion stated.
“Additional, out of those, 62 lakh homes have been accomplished. Out of the full sanctioned 123 lakh homes, the proposals of 40 lakh homes have been acquired late (throughout final 2 years of scheme) from the states/UTs, which require one other two years to finish them,” the federal government stated within the assertion.
Due to this fact, based mostly on the requests from the states and UTs, Union Cupboard determined to increase the implementation interval of PMAY-U until December 31, 2024, the assertion added.
Central help authorised since 2015 is Rs 2.03 lakh crore towards Rs 20,000 crore in 2004-2014, it stated, including that as much as March 31, 2022, central help/subsidy of Rs 1,18,020.46 crore has already been launched and Rs 85,406 crore can be launched until December 31, 2024.
The continuation of the scheme as much as December 31, 2024 will assist in completion of already sanctioned homes below BLC, AHP and ISSR verticals.
The scheme is being applied via 4 verticals: Beneficiary Led Building/Enhancement (BLC), Reasonably priced Housing in Partnership (AHP), In-situ Slum Redevelopment (ISSR) and Credit score Linked Subsidy Scheme (CLSS).
The assertion stated that whereas the Central authorities supplies monetary help, state and UTs implement the scheme, together with choice of beneficiaries.
