Tag Archives: PMAY Urban

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A Move In The Right Direction: Common RERA Portal For All States/UTs By Central Government

Jul 3,2019 / By / No Comment
Gujarat RERA

A Move In The Right Direction: Common RERA Portal For All States/UTs By Central Government

The centre has planned to framework a common online RERA portal of all states and UTs, a move which will provide an opportunity to home-buyers, builders and authorities to exchange their views and make the overall implementation of RERA even more strong.

Announcing the government’s plan, the Housing and Urban Affairs Secretary Durga Shankar Mishra said that with the help of this portal, the real estate law will become more strong.

Under the Real Estate (Regulation and Development) Act, 2016, all states are directed to form their respective real estate regulator RERA which aims to regulate the housing sector giving proper protection to homebuyers and make transaction fair and transparent.

As many as 30 states and UTs have notified RERA, but West Bengal has notified its own real estate regulator – Housing and Industrial Regulation Act, 2017 (HIRA). In July last year, the ministry had asked the opinion of the Law Ministry over West Bengal notifying its own real estate law rather than implementing the Real Estate (Regulation and Development) Act passed by Parliament.

According to the ministry, as per the laws of Pradhan Mantri Awas Yojana (Urban), homebuyers will not be able to avail Credit Linked Subsidy Scheme (CLSS) under the mission if housing project is not registered under RERA. Under PMAY (U), homebuyers can avail an interest subsidy of up to Rs 2.67 lakh.

As many as 14,170 crores have been spent and over 6.32 lakh are beneficiaries under credit linked subsidy scheme (CLSS) under the Prime Minister Awas Yojna (Urban).

Later, Mishra told reporters that through this portal, any state RERA can study an order of other states in a particular subject. Also, home-buyers and builders can give their views on this issue.

Giving details about real estate projects on the 4th anniversary of PMAY (U), Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Smart Cities Mission (SCM), the Housing and Urban Affairs Secretary said that over 42,000 projects have been registered under RERA while more than 32,000 real estate agents have been registered till now.

The Housing and Urban Affairs Minister Hardeep Singh Puri expressed his confidence that the target of PMAY (U) will be achieved by the end of 2020 as against the target of 2022. The demand for total houses under the scheme is 1-crore and so far. More than 81 lakh houses have been sanctioned and the rest of the houses will be sanctioned by ist quarter of the next year. He also expressed his hopes that all the houses will be handed over to the beneficiaries by 2020. An investment of Rs. 8 lakh crores have been allocated in these 3-schemes.

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Modi govt changed rules: Now get bigger homes under PM Awas Yojana

Jul 2,2018 / By / No Comment

PMAYGood news for all the home buyers in cities. Changes have been made in the Narendra Modi government’s affordable housing scheme Pradhan Mantri Awas Yojana-Urban (PMAY-U).

The government has approved a 33-percent increase in carpet area of houses eligible for interest subsidy under its affordable housing scheme Pradhan Mantri Awas Yojana-Urban (PMAY-U) to attract more beneficiaries, the Housing and Urban Affairs (HUA) Ministry said.

An increase in the carpet area of a house under PMAY-U has been made across all middle-income group groups. For Middle Income Group-I (MIG-I), the carpet area has been increased from 120 sq m to 160 sq m and for MIG-II, it has been increased from 150 sq m to 200 sq m.

The new rules were effective from January 1, 2017 – the date on which the scheme became effective. Under the Credit-Linked Subsidy Scheme (CLSS), each beneficiary can avail funding up to Rs 2.35 lakh on buying of a house under this scheme.

A four percent interest subsidy is available on loans up to Rs 9 lakh for homebuyers with an annual income of Rs 6-12 lakh under MIG-I plan. Three percent interest subsidy is given on loans up to Rs 12 lakh for homebuyers with income between Rs 12-18 lakh per annum.

The change in rules enables more MIG customers to qualify for funding and avail the benefits provided under Pradhan Mantri Awas Yojana-Urban (PMAY-U). Apart from growing the number of beneficiaries, the improvement in carpet area will increase the construction activity and will give a push to the housing sector.

According to Housing and Urban Affairs ministry, an amount of Rs 736 crore had been distributed to 35,204 recipients belonging to the MIG category till the second week of June. After accumulating inputs from various stakeholders, the decision to increase the carpet area for MIG section was done.

Previously, the Centre approved construction of 1.5 lakh houses for urban poor under the PMAY-U in May taking the total number of dwelling units to 47.52 lakh under the programme so far. The approval required an investment of Rs 7,227 crore with central assistance of Rs 2,209 crore.

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Government directs states to adopt new technologies for constructing affordable homes

Dec 1,2017 / By / No Comment

The government has instructed states and Union territories to follow 16 alternate innovative technologies for fast and better building of homes under the affordable housing in partnership (AHP) and in-situ slum rehabilitation (ISSR) schemes.
It also requested to launch the global housing construction technology challenge (GHCTC) to globally identify best technologies which are convenient for bulk housing.

The housing ministry said in a release, “States and shall adopt 16 alternate innovative sustainable, modern, green and disaster resistant technologies that have been recognized.”

Announcing seven strategies to speed up implementation of the Pradhan Mantri Awas Yojna (Urban), the ministry on November 29 asked states and Union territories to implement necessary land reforms to make sure that recipients have a legal land document, and put in place a single-window time-bound clearance system for plan approvals and construction permissions.

It has also requested states to organize a land databank to make sure the availability of land for affordable housing.
The ministry further added “States and Union territories may meet their state’s policies with new 8 PPP models and utilize suitably to promote affordable housing,”

While asking states to provide incentives like transferable development rights (TDR) and additional floor area ratio (FAR) to make the ISSR projects feasible, the ministry also asked the states to offer rental accommodation to the slum dwellers while relocating them in ISSR projects.

It has also instructed states to share their individual roadmap with respect to slum redevelopment projects under ISSR.
To encourage its flagship Credit Linked Subsidy Scheme (CLSS), the government has asked states to aim Anganwadi workers, teachers, state police departments, Paramilitary forces, etc.

The proposals were extracted from a day-long National Workshop on Accelerating Implementation of Urban Missions: Swachh Bharat mission (Urban) and PMAY (Urban) that was conducted here in the month of November.

The government launched its flagship ‘Housing for All by 2022′ scheme on June 25, 2015, which is divided into two schemes namely PMAY (Rural) and PMAY (Urban). It has so far approved 30.81 lakh houses under PMAY (Urban), in which around 15.65 lakh houses have been grounded and are at various phases of construction and about 4.13 lakh houses have been built since the launch of the scheme.

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