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Lucknow: The housing sector in UP is expected to get a big boost from April 1.
The state government estimates that there will be rapid urbanization in the country in the next five years. Uttar Pradesh The demand for 64 lakh new housing units will get a boost.
To meet the target by 2027, the Housing and Urban Development Department will have to provide about 13 lakh houses every year with private participation.
Senior officials said that the higher budget allocation under the Pradhan Mantri Awas Yojana would help in achieving the state government’s ‘Housing for All’ mission. UP is the second largest beneficiary of this scheme and since 2015 around 17 lakh families have got the benefit of construction of their first house.
The central and state government provides Rs 2.50 lakh to the individual. “Most of the persons in UP apply under ‘beneficiary-led construction’ category. For construction of their earlier residential Houses, funds are provided at different stages of construction,” said the official.
Similarly, 34.40 lakh families from rural areas of the state have also received benefits under the scheme. Principal Secretary, Housing Department Nitin Ramesh Gokarn He said, “Families living in Tier II and Tier III cities of the state will be benefitted. We are going to expedite the applications related to PMAY Plan from next financial year.
The national budget of PMAY has been increased from Rs 48,000 crore to Rs 79,000 crore. Shalimar Corp director Kunal Seth said, “The 66% increase in the PMAY scheme will benefit companies that focus on affordable housing in smaller cities. Allocation of Rs 10,000 crore for the Urban Infrastructure Development Fund (UIDF) Will improve urban infrastructure, making cities more attractive to potential home buyers.”
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