21.97 Lakhs houses grounded /completed against 40.65 Lakh Houses sanctioned since launch of PMAY (Urban)

The progress of Pradhan Mantri Awas Yojana (Urban) can be measured by the fact that as on date 40.65 lakh houses have been sanctioned out of which 18.47 lakh houses have been grounded while 3.5 lakh houses have been completed. Apart from this, out of those houses which remained incomplete till march 2014 and sanctioned under JNNURM, 1.7 lakh houses have been completed. Therefore, total number of houses which have been completed is 5.2lakhs.

Moreover, the number of houses sanctioned by the Govt. in the last 1 year is 21.65 lakhs. The housing projects normally take between 18 to 24 months to complete its life cycle of construction and hence houses grounded for construction is the true indicator of the real and physical progress of the scheme done at ground level. Of the houses grounded for construction, 55% are at ground level, 12% at foundation and the rest are at various stages of completion. The actual pace of the scheme started from October 2016 and the construction activities commenced from 2017 onwards, after partnership with stakeholders and tendering activities.

 

An enabling ecosystem for Affordable Housing (of which PMAY (U) is a significant part) involving grant of Infrastructure Status, simplification of FDI process, introduction of PPP models, introduction of new modern and innovative construction technologies, increasing the carpet area of houses eligible for interest subsidy under CLSS for MIG and increase in coverage of areas under PMAY (U), amongst others are all gearing towards giving the necessary thrust to the pace of implementation of the Scheme. The GST rate was also reduced from 12% to 8% for the houses constructed or acquired under the CLSS vertical of PMAY-Urban covering EWS, LIG, MIG I and MIG II and has been in effect from January 25, 2018.

With these measures, PMAY(U)is moving in the right direction. Every Month, more than 3 lakh houses are being approved under PMAY(U) and has moved at a fast pace as compared to earlier schemes

1.During the 7-year mission period of JNNURM,12.41 lakh dwelling units were sanctioned; whereas number of sanctioned houses have already reached more than 3 times under PMAY(U) (40.65 lakh houses) in less than 3 years.

2.Rate of completion of houses under PMAY(U) is approx 14,252 houses per month which was only 8,333 houses per month under the earlier scheme.

3.In the earlier Interest subvention Schemes (ISHUP/RRY), only Rs 22.50 Crore was released to 18,166 beneficiary loan accounts while under PMAY(U) beneficiaries are 5 times (91,694) and interest subsidy is over 82 times (Rs. 1,859 Crore).

The centre has released Rs. 13,582 crore as assistance to the states/UTs under this scheme. A mechanism for ensuring continued funding to States/UTs has been formulated with the approval by the Union Government last month to set up a National Urban Housing Fund for Rs. 60,000 crores in the Ministry for raising Extra Budgetary Resources (EBR) in phases for the rapid implementation of PMAY (U).

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