investment

Centre approves 90,095 more homes under PM Awas Yojana

Government approved construction of 90,095 more affordable houses for urban poor under Pradhan Mantri Awas Yojana (Urban) with an investment of Rs 5,590 crore in three states. PM Awas Yojna is an ambitious housing scheme to provide affordable houses to the poor people of the country at affordable cost. The main purpose is to provide houses to all by 2022. The central assistance for the same would be Rs 1,188 crore.

Here are complete details of the houses in the states where these houses are sanctioned and the investment of the central government and MHUPA.

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The ministry of housing & urban poverty alleviation (HUPA) has allotted the highest 82,262 houses in 49 cities and towns of Madhya Pradesh with an investment of Rs 5,260 crore with a central assistance of Rs 1,071 crore.
Jammu & Kashmir got 4,915 houses in 24 cities and towns with an investment of Rs 240 crore and central assistance of Rs 74 crore, while Dadra & Nagar Haveli’s capital Silvassa has been sanctioned 803 affordable houses with an investment of Rs 26 crore and central assistance of Rs 12 crore.

The government approved 46,823 new houses under the beneficiary led construction (BLC) component of PMAY (Urban), enhancement of 773 houses in Jammu & Kashmir under BLC and building 42,499 new houses in Madhya Pradesh under affordable housing in partnership (AHP) component.

In Madhya Pradesh, another 39,763 new houses will be built under BLC component under which an eligible beneficiary is assisted to build a house on the land owned by him/her. This takes the total affordable houses approved for Madhya Pradesh to 187,135 and for Jammu & Kashmir to 5,864. The government has so far approved construction of 1,651,687 affordable homes for the benefit of urban poor under PMAY (Urban) with a total investment of Rs 89,072 crore with central assistance of Rs 25,819 crore.

Under BLC (Beneficiary Led Construction) and AHP (affordable housing in partnership) components of PMAY (Urban), central assistance of Rs 1.50 lakh is provided for each beneficiary.

February 22, 2017 / by / in , , ,
Builders offering lucrative offers to beat realty misery

Due to Demonetisation, Residential real estate market is slowdown. Though sales have not picked up pace, enquiries have started to come. Builders realised that it is a critical period and coming up with numerous lucrative offers to give a slight nudge to homebuyers. Most of the schemes like heavy discounts and possession linked or payment plan linked etc. Good deals were offered by developers.

Benefits like free maintenance, free first transfer, and 0% processing fee on home loans are also among the offers being floated in the market currently.

Residential realty saw a 15-20% dip in sale volumes in Nov-Dec 2016 due to demonetisation. Both primary and secondary sales were impacted. Investors are expecting that it will take some time for market to regain pace and such offers are being floated to bring back the fence-sitters. But expect a normal real estate market by the end of 2017.

February 21, 2017 / by / in , , , , ,