The Uttar Pradesh State Government is planning to escalate the cost of dwelling units under the Pradhan Mantri Awas Yojana [PMAY]. At present, the housing unit is priced at Rs. 4.5 lakh which might face a hike of Rs. 2 lakhs.
According to the sources, the issue of flats costing was raised in the recent meeting that held between the officials and builders’ association. Some officials said that the increase in the cost of affordable homes will attract more private developers.
The Ghaziabad Development Authority has received a DPR [Detailed Project Report] from six builders for 3,388 dwelling units under the Pradhan Mantri Aawas Yojna in the city.
Ishtiyaque Ahmad, chief architect and town planner at GDA was quoted saying that till now the State Government has sanctioned DPR for 10,786 dwelling units under PMAY out of which 777 will be developed by private builders. He further said that all these detailed project reports will be sent to the State Government for approval.
When asked about cost escalation, Ishtiyaque Ahmad said that each unit costs Rs. 4.5 lakh out of which Rs 1.5 lakh is contributed by the Central Government while the State Government pay Rs. 1 lakh partially and the rest amount of Rs. 2 lakh is paid by the beneficiary.
The State Government, however, is likely to increase the cost of each dwelling units to Rs 6.5 lakh. In this scenario, the beneficiary will have to pay Rs. 4 lakhs while the Central and State Government will pay their current share in the cost.
The Ghaziabad Development Authority [GDA] aims to develop 13,500 affordable units in 2018-19, 18,000 in 2019-20 and set the target to develop 4,500 in 2021-21. All this add upto to 36,000 dwelling units.