BMC’s affordable housing units may be disposed of under PMAY, Real Estate News, ET Real Estate

Bhopal: Unable to find takers for their affordable housing projects, Bhopal City Corporation (BMC) is seeking proposals to ‘dispose’ a large number of housing units built under Pradhan Mantri Awas Yojana ,PMAY)-urban.

The city has set a target of providing 1.06 lakh housing units by the end of 2022.

“The sale of other constructions such as LIG and MIG units cover for low-income housing units provided to the beneficiaries under the PMAY scheme. Their demand in three such schemes has not been as expected. BMC will appoint RERA-approved marketing agency or personnel for the sale of unsold units,” said Chandra Pratap Gohal, additional commissioner of BMC.

Apart from LIG and other housing options, the civic body is also seeking proposals to purchase non-slum EWS (1BHK) units in the 12 Number Stop area in Bhopal. The other two constructions under this which have not been able to meet the demands are in Bajpai Nagar and Ganga Nagar. The agency will get 1% as commission for disposal of housing units under HFA, he said.

Around 2016, five sites were identified under the vertical of AHP – Kokta, Shyam Nagar Part III, 12 Number Stop Slum Cluster, Bajpai Nagar and Ganga Nagar.

According to experts, the issue of not having many units is more socio-economic. “The experience of Kokata HFA is an example. BMC shied away from maintenance. Some paid and most did not pay for maintenance. Had housing been further segregated at the DPR stage, BMC would have been given prime real estate. There is almost no problem in selling flats in some places,” said an urban consultant.

Around 5856 EWS, 2088 MIG and 1152 LIG were planned at an estimated cost of Rs 836 crore. The focus from the very inception of the scheme was that concessional rate of construction of houses for EWS would be charged from affordable housing units of LIG and MIG flats.

The beneficiary contribution was pegged at Rs 162 crore in the current financial, of which Rs 111 crore would be received as state and central government contribution. However, the net implementation fund is stuck at around Rs 98 crore. In the last financial year, the income from freehold land for housing was pegged at Rs 10 crore for all scheme units. The actual was zero. According to budget estimates, the BMC needs to raise Rs 300 crore to implement the scheme and break even.