The central government has approved the first affordable housing project under the Pradhan Mantri Awas Yojana (PMAY) in the state to construct 30,000 low-cost homes in Solapur.
The central government has approved the first affordable housing project under the Pradhan Mantri Awas Yojana (PMAY) in the state to construct 30,000 low-cost homes in Solapur. A Solapur-based social worker and former MLA of the Communist party Narsayya Adam will construct 30,000 low-cost homes on ‘no profit no loss’ basis for the economical weaker section (EWS) category which includes mainly beedi workers and sweepers.
In a meeting in this regard was held at Delhi between the Union housing ministry officials and Nirmal Deshmukh, state mission director of PMAY in the state along with S.S. Zende, CEO, Mhada, which is the nodal agency in the state to implement PMAY. “In the review meeting the project in Solapur was approved and this is the first project approved for the state. The plan is to construct 30,000 low-cost homes of 30 square metres or 322 square feet,” said Nirmal Deshmukh, state mission director, PMAY.
The project is mooted to meet the target of ‘Housing For All By 2022. This benefit is aimed at first-time home buyers and the subsidy will be granted to those who fall under the Economical Weaker Section (EWS) category and whose family income does not exceed Rs 25,000 per month.
“The deadline for the construction of the low-cost homes is four years, which will start from August 2016, and the plan is to construct a complete new township on a 190-acre land parcel, which will have a ground plus three residential complexes along with commercial complexes and an open space reserved for gardening and recreational activities,” said Mr Adam, a former MLA.
For example, if an individual is interested in buying an apartment not measuring more than 30 metres, which would cost him around Rs 20 lakh, the Central and state government will pay Rs 2.5 lakh to the buyer and the buyer will have to pay the remaining Rs 17.5 lakh.
To address the housing requirement of the masses, the Central government has set four components, which includes slum redevelopment by using land as resource, credit link subsidy where home loans will given at interest rate 6.5 per cent for 15 years.
The proposed scheme for the state comes under affordable housing partnership initiated with public and private sectors to grant subsidy in monetary terms but up to Rs 2.5 lakh. Lastly, the Centre is also mooting subsidy to individuals for constructing their own houses where such individuals can avail monetary assistance up to Rs 1.5 lakh.
