Centre to bear 90 percent cost of houses in J&K
Nishikant Khajuria
JAMMU, Aug 9: The Union Cabinet, chaired by Prime Minister Narendra Modi today approved the proposal of the Department of Rural Development for construction of two crore more houses under the Pradhan Mantri Awaas Yojana – Gramin (PMAY-G).
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The Pradhan Mantri Awaas Yojana-Gramin during FY 2024-25 to 2028-29, prescribes for the construction of two crore more houses at existing unit assistance of Rs 1.20 lakh in plain areas and Rs 1.30 lakh in Union Territories of Jammu & Kashmir and Ladakh, Hill States of Himachal Pradesh, Uttarakhand and North Eastern Region States.
A total outlay of Rs 3,06,137 crore has been provided for the period till 2028-29, which will include Central share of Rs 2,05,856 crore and State’s share of Rs 1,00,281 crore.
Houses incomplete from the previous phase of the PMAY-G, as on March 31 this year, will also be completed during the FY 2024-25 on the existing rates. The two crore houses proposed are expected to benefit nearly 10 crore individuals.
Families belonging to EWS/LIG/Middle Income Group (MIG) segments having no pucca house anywhere in the country are eligible to purchase or construct a house under PMAY-U 2.0.
EWS households are families with an annual income up to Rs 3 lakh while LIG households are families with an annual income from Rs 3 lakh up to Rs 6 lakh. MIG households are families with an annual income from Rs 6 lakh up to Rs 9 lakh.
The scheme seeks to address the affordable housing requirement in urban areas through financial assistance provided to individual eligible families belonging to EWS categories to construct new houses on their own available vacant land. In case of landless beneficiaries, land rights (pattas) may be provided by States/UTs.
Further, financial assistance will be provided to EWS beneficiaries for owning houses being built with different partnerships by States/UTS/ Cities/Public/Private agencies. Redeemable Housing Vouchers will be given to beneficiaries who purchase house from private projects.
Affordable Rental Housing (ARII) will create adequate rental housing for working women, industrial workers, urban migrants, homeless destitute , students and other eligible beneficiaries. ARII shall ensure affordable and hygienic living spaces for urban dwellers who do not want to own a house but require housing for short term basis or those who do not have the financial capability to construct or buy a house.
On home loans for EWS/LIG and MIG families, the Interest Subsidy Scheme (ISS) vertical will provide benefits of subsidy. Beneficiaries taking loan up to Rs 25 lakh with house value up to Rs 35 lakh will be eligible for 4 percent interest subsidy on first Rs 8 lakh loan up to 12 years tenure. A maximum of Rs 1.80 lakh subsidy will be given to eligible beneficiaries in 5 yearly installments through push button.
The cost of house construction under different verticals, except for ISS, shall be shared among the Union Ministry and State/IT/ULB and identified eligible beneficiaries. State/UT share shall be mandatory under the scheme.
For the Union Territory of Jammu and Kashmir, the sharing pattern will be 90:10 and for the other States, the sharing pattern will be 6:40. For the UTs without legislature, like Ladakh, Central and State sharing pattern will be 100:0.
Under ISS vertical, Central assistance up to Rs 1.80 lakh subsidy will be given to eligible beneficiaries in 5-yearly installments.
The Cabinet approval would facilitates all the houseless and people living in dilapidated and Kutcha houses to build safe and secure house of good quality with all the basic amenities. This will ensure safety, hygiene and social inclusiveness of the beneficiaries.
To achieve the objective of “Housing for All” in rural areas, the Central Government had launched the Pradhan Mantri Awas Yojana -Gramin with effect from April 2016 with a target of constructing 2.95 crore houses with basic amenities with a deadline of March 2024.
Prime Minister Modi, in his Independence Day speech on 15th August 2023 from the ramparts of Red Fort had announced that Government of India will come up with a new scheme for the coming years to provide benefit to weaker section and middle-class families in owning a house.
PMAY-U 2.0, with an investment of Rs 10 lakh crore, will address the housing needs of one crore families, ensuring that every citizen leads a better quality of life.
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