In order to give boost to India’s urban infrastructure, Union Government has decided to provide 12 million houses in urban areas by 2022. Speaking at a lecture on ‘2022: The India We Seek’, Union Minister of State for Housing and Urban Affairs Hardeep Singh Puri said that the government is committed to bringing holistic transformation in the country’s infrastructure development and hence we are taking important steps.
While delivering the lecture, Puri said, “We are sanctioning at a rate of 3 lakh to 5 lakh affordable houses per month under the Pradhan Mantri Awas Yojana (PMAY), as part of Government home-for-all campaign”. This capacity building was imperative as the urban population was expected to rise from the present 30 per cent to an estimated 50 per cent by 2030.”
Recently the cabinet has approved setting up of National Urban Housing Fund (NUHF) for Rs 60,000 crore to meet funds requirement in a bid to the target of building much affordable houses in urban areas.
The housing and urban ministry has also come out with eight models to promote private sector participation in the affordable housing sector. Six of these are based on leveraging government land and two are based on private land ownership. Both the central and state governments are also providing absolute subsidies, and the minimum cost of a home is about Rs 6.5 lakh.