CABINET APPROVES DEVELOPING OF AFFORDABLE HOUSING COMPLEXES FOR URBAN MIGRANTS


The Union Cabinet chaired by the PM Shri Narendra Modi has given its approval for developing of Affordable Rental Housing Complexes (AHRCs) for urban migrants / poor as a sub-scheme under Pradhan Mantri Awas Yojana – Urban (PMAY – U).

  • Existing vacant government funded housing complexes will be converted in ARHCs through Concession Agreements for 25 years.
  • Concessionaires will make the complexes livable by repair/retrofit and maintenance of rooms and filling up infrastructure gaps like water, sewer/ septage, sanitation, road etc. States/UTs will select concessionaires through transparent bidding.
  • Complexes will revert to ULB after 25 years to restart the next cycle like earlier or run on their own.
  • Special incentives like use permission, 50% additional FAR/FSI, concessional loan at priority sector lending rate, tax reliefs at par with affordable housing etc. will be offered to private/ public entities to develop ARHCs on their own available vacant land for 25 years.