Advisory Center for Affordable Settlements & Housing

acash

Advisory Center for Affordable Settlements and Housing
ACASH

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Document TypeGeneral
Publish Date14/01/2020
AuthorMr. Sanjay Dutt
Published ByICRA, FICCI Real Estate Committee
Edited ByTabassum Rahmani
Uncategorized

Significant progress made on government’s affordable housing

As on date, large tracts of vacant land are available with the Central ministries, especially the Ministry of Defence, the Ministry of Railways, and the Ministry of Civil Aviation. Identification and strategically planned absorption of such unproductive land, with earmarking for affordable housing, would address the key need of the hour, pertaining to unlocking of land at appropriate locations. Land available with certain loss-making PSEs, such as HMT Bearings in Hyderabad, Hindustan Antibiotics in Pune, Heavy Engineering Corporation in Ranchi, Indian Drugs and Pharmaceuticals in Gurgaon, Tungabhadra Steel Products in Karnataka and HMT Watches in Nainital, has already been identified. NBCC has been appointed as the land management agency to auction the real estate assets of loss-making companies. PMAY-G: With the aim of addressing gaps in rural housing and providing Housing for All by 2022, the earlier Indira Awas Yojana (launched in 1996) was restructured into PMAY-G w.e.f. from April 1, 2016. The restructured mission has two phases: Phase I aimed at providing pukka houses to 1 crore households living in kutcha/dilapidated houses over the period FY2017-19 Phase-II aims at providing coverage to 1.95 crore households over the period FY2020-22, with an immediate target of 60 lakh houses in FY2019-20 The mission functions through the provision of cash incentives for the development of pucca homes, and also ties in the requirement for each such house to have a cooking area, toilet, LPG connection, electricity connection and water supply through convergence with other relevant schemes like the Swachh Bharat Mission-Gramin (SBM-G), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), etc. Developed houses are required to have a minimum size of 25 sq. mt. and are to be constructed within 12 months of the sanction date.

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