The flagship Pradhan Mantri Awas Yojana (PMAY) has completed construction of over 89 lakh houses in urban India, said the Economic Survey 2025, adding that 1.38 lakh real estate projects are currently registered under the RERA Act.
“As of November 25, 2024, a total of 1.18 crore houses have been sanctioned, with 1.14 crore grounded and over 89 lakh completed. PMAY (Urban) 2.0 was launched in September 2024 to assist an additional one crore households,” the survey said.
The Centre had said in Budget 2024 that it will assist one crore more houses under the PMAY (Urban) scheme and Rs 10 lakh crore will be invested, including a central assistance of Rs 2.2 lakh crore over five years.
The first Cabinet decision of Modi 3.0 term had last year approved construction of three crore additional houses under PMAY scheme, out of which two crore homes were to come up in rural areas under PMAY (Grameen).
The Economic Survey 2024-25 further said that over 35,000 affordable housing units have been built in 23 cities under Smart Cities Mission, and 199 projects worth Rs 9,200 crore have been implemented in over 50 cities across India.
The survey added that the Real Estate (Regulation & Development) Act, 2016, has ensured better regulation and transparency in the real estate sector.
“By January 2025, over 1.38 lakh real estate projects were registered under RERA and 1.38 lakh complaints had also been resolved,” the survey said.
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