The Centre on Friday approved construction of 6.5 lakh houses under the Pradhan Mantri Awas Yojana (Urban), taking the total number of houses being funded under the scheme to over one crore.
Addressing a press conference, Union Housing and Urban Affairs Minister Hardeep Singh Puri said in the next three to four months, the ministry will sanction all the 1.12 crore houses, a target set by the government.
According to the ministry, a total of 57 lakh houses are in various stages of construction of which, nearly 30 lakh houses have been completed.
Ministry secretary Durga Shanker Mishra said that the PMAY has covered a range of social groups which comprises of around 5.8 lakh senior citizens, 2 lakh construction workers, 1.5 lakh domestic workers, 1.5 lakh artisans, 770 transgenders, 500 leprosy patients among others as of now.
Puri said that the implementation of PMAY (U), has induced a remarkable investment in the housing sector, especially in the affordable housing segment.
The houses sanctioned so far under the mission involve an investment of about Rs 5.70 lakh crore with central assistance of Rs 1.6 lakh crore, he said.
As on date, nearly Rs 60,000 crore central assistance has already been released.
"Presently, works of about Rs 3 lakh crore is ongoing and by the time mission accomplishes its target of 1.12 crore houses, the entire activity will trigger an investment of more than Rs 7 lakh core," the ministry said in a statement later.
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