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The Economic Survey 2024-25 said that over 35,000 affordable housing units have been built in 23 cities, under the Smart Cities Mission and 199 projects worth Rs 9,200 crore have been implemented in over 50 cities.
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Lower stamp duty for women purchasing property is likely to drive the growth of more first-time home buyers, he said, reacting to the Union Budget presented by Union Finance Minister Nirmala Sitharaman in the Lok Sabha.
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The PMAY scheme was launched in June 2015, it aims to provide pucca houses with basic amenities to all eligible urban beneficiaries.
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While the country's real estate growth remains upbeat, reflected by historically high sales in 2023, several underlying issues, including high interest rates and lower affordability, continue to pose challenges.
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The additional secretary also emphasized that investment in rain harvesting projects should be a core infrastructure plan for the private sector in housing complexes, particularly in the affordable housing sector.
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Sobha, Brigade Enterprises, Oberoi Realty, Godrej Properties and DLF stocks fall up to 1 percent.
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Decline in share of affordable housing shows demand and supply contraction on the back of rising costs. Can the government still make 'Housing for All' a reality?
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The Rural Development department of the state government has also initiated departmental action against 347 government employees (309 Aawaas Sahayak and 38 Awaas Paryavekshak) for not ensuring complete construction of houses even after disbursal of the entire amount to the account of beneficiaries in their respective rural blocks.
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The state is seeking this as a special case for the Mumbai Metropolitan Region under the Pradhan Mantri Aawas Yojana. The annual income cap for various housing schemes floated by the Maharashtra government is already above Rs 6 lakh.
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In response to a question, the minister said that under PMAY-G, a total of 2.21 crore houses have been constructed in the country
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Change in the tax regime for REITs could potentially have a negative impact on the growth of the fledgling industry.
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While some real estate experts termed it a ‘balanced budget’, others said there were no ‘immediate booster shots' for the sector
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Homebuyers across India, who had high expectations that the budget would provide tax relief on housing loans and spur completion of pending projects, say they feel badly let down by Nirmala Sitharaman’s budget.
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A sum of Rs 48,000 crore was set aside in the previous budget for the completion of 80 lakh houses under PMAY
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House pricing in tier 2 and 3 cities is also increasing given the trend of remote work.
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The letter, sent by the state on Monday, is a reply to the Union Ministry of Rural Development's 493-page communication, seeking details of expenses made as part of the scheme, the official said.
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Timely payment of wages to poor jobseekers is the fundamental guarantee under the MGNREGA Act, Bihar Rural Development minister Shrawan Kumar said.
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(Eds: Adding picture ) Satna (MP), Oct 22 The Pradhan Mantri Awas Yojna (PMAY) has become a "major medium for bringing in socio-economic chang..
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State Urban Development and Housing Minister Bhupendra received the award on behalf of the state from Prime Minister Narendra Modi at the 'Indian Urban Housing Conclave' in Rajkot in Gujarat on Wednesday.
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The PMAY-U has successfully ensured housing supply to over 4.8 million households since it was launched in 2015. But it needs focused approach to address the challenges in slum redevelopment
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The homes are likely to go on sale next month in Mumbai’s satellite cities, including Navi Mumbai, Thane, Virar, Kalyan and Dombivali.
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Real estate developers say that in a city like Mumbai constructing affordable homes is a challenge as the cost of land is high
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The approvals were given at the 58th meeting of Central Sanctioning and Monitoring Committee (CSMC) under Pradhan Mantri Awas Yojana (Urban) on February 15.
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Budget 2022 | Homebuyers expressed unhappiness over the absence of any additional tax deduction on interest paid on home loans or relief for buyers stuck with incomplete projects.
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As many as 80 lakh homes are expected to come up by 2023.
