Gujarat second in PMAY-Urban funds availed – ET RealEstate

AHMEDABAD: Gujarat has emerged as a prominent beneficiary under the Centre’s Pradhan Mantri Awas Yojana (Urban) as the state has received the second-highest central assistance after Uttar Pradesh.

Out of the total Rs 13,899 crore sanctioned, central assistance worth Rs 9,717 crore has been released to Gujarat under PAMY (U) as on January 25, 2021, shows data released by the ministry of housing and urban affairs (MoHUA).

Uttar Pradesh has seen the highest amount of central assistance (Rs 13,329 crore) being released to the state. Total assistance of Rs 27,342 crore has been sanctioned for Uttar Pradesh. The PMAY(U) launched in June 2015, is a flagship mission of the central government to ensure a pucca house to all eligible urban households by the year 2022. It is being implemented by MoHUA.

Apart from interest subsidy on home loans, financial assistance is also provided to eligible households under different components of the scheme. Most of the central assistance has been disbursed in form of a subsidy under PMAY(U)’s credit-linked subsidy scheme (CLSS).

According to the State Level Bankers’ Committee (SLBC), Gujarat, a subsidy of Rs 6,896 crore was disbursed to 2,89,684 crore beneficiaries across the state under the CLSS as on October 31, 2020.According to the ministry data, out of 7.5 lakh houses sanctioned to be built under the programme, construction of 5 lakh houses has been completed across the state since the launch of PMAY(U). The state also has the second highest number of completed houses after Uttar Pradesh.
Gujarat second in PMAY-Urban funds availed“Gujarat is one of the most urbanised and industrialised states in India. Hence, there is a good demand for urban housing in the state,” said Jaxay Shah, national chairman, Confederation of Real Estate Developers’ Association of India (CREDAI). “Factors such as robust urban and social infrastructure, state’s affordable housing policy, smooth co-ordination between the state and central government have further contributed to the strong performance of PMAY(U) in Gujarat,” he added.

According to industry players, enhancement in the carpet area for middle income group (MIG) categories of housing has further resulted in an increase in the number of beneficiaries. Within Gujarat, Ahmedabad has grabbed the largest of share — Rs 2,333 crore — of the released central assistance. The total assistance sanctioned for Ahmedabad is Rs 3,802 crore. Out of the total Rs 1.77 lakh crore sanctioned across the country, states and Union territories have been released an amount of Rs 84,387 crore.

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