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Affordable Housing: Nearly 1.4 crore houses sanctioned under PMAY (Gramin)
The Hindu Business Line  |  January 27, 2020

Our Bureau New Delhi

The progress of Pradhan Mantri Awas Yojana (PMAY)-Gramin has been significantly better compared to PMAY-Urban, as 88 per cent of the sanctioned houses have been completed under Phase-I (2017-2019) of the scheme, according to the FICCI-ICRA report.

 

The report titled, "Affordable Housing" mentioned that while the number of houses sanctioned under the scheme has been high, at around 1 crore under PMAY-U and around 1.4 crore under PMAY-G till January 2020, actual completions, particularly under PMAY-U, have been limited, were only 31 per cent of the sanctioned houses.

 

House completion velocity under the PMAY-U has been slower than initially envisaged, possibly on account of the low budgetary allocations and high reliance on non-budgetary funding for the scheme, it added.

 

The report further added that under PMAY-U, Andhra Pradesh and Uttar Pradesh have fared particularly well, due to their promptness in establishing PPP practices, and their focus on streamlining execution and maintaining efficiency in timelines through various steps.

 

On the other hand, under the first phase of PMAY-G, the states such as Madhya Pradesh, West Bengal and Uttar Pradesh recorded the highest number of house completions.

 

"Throughout the country, the sale of houses in the affordable category has witnessed considerable momentum and it has been reported that nearly 7.95 lakh housing units would be delivered in India’s nine major property markets between October 2019 and December 2020," said Sanjay Dutt, Joint Chairman, FICCI Real Estate Committee.