Centre government has given a green flag to the construction of 42,613 affordable houses under Pradhan Mantri Awas Yojana in Punjab. The government has also granted an amount of Rs. 69.60 crore for the first phase of PMAY in Punjab.
For the current financial years, the Grant will be spend on the already proposes houses under Rajiv Awas Yojana component Credit Linked Subsidy Scheme. With the aim to redevelop all kutcha houses into pucca houses, Punjab government invited applications for Credit Linked Subsidy Scheme across the state.
On the basis of applications, the government sent a proposal of 329 projects to centre which has been approved. In this 329 projects, 42,613 houses will be constructed in different locations of Punjab and the concerned department is identifying the land for building these houses. Of total, 115 houses has been constructed and 116 are under construction.
The estimated worth for the construction of these houses is around Rs. 1193.26 crore of which Rs. 598.80 crore would bear by centre and remaining amount will be contributed by Punjab government and the beneficiary.
Along with Credit Linked Subsidy Scheme, Punjab government is also planning to launch the scheme to rehabilitate slum area through its Slum Rehabilitation Scheme. The government has also created the layout of the scheme. The scheme would be implemented in Partnership. Though, the private developers are not showing much attraction towards the government plan of constructing affordable houses in the state. But the government is encouraging the builder by providing them exemptions.