On June 9th, 2014 the Prime Minister of India, Mr. Narendra Modi revealed the ‘Pradhan Mantri Awas Yojana (PMAY)’. The idea behind this scheme was to provide ‘Housing for All (urban) by 2022 (HFA 2022)’, 75th year of Indian Independence. The beneficiaries of this scheme would be the poor living in the urban area. The mission was launched on 25th June,2015.
The mission seeks to address the housing requirements of urban poor including slum dwellers through these programme verticals:
- Slum rehabilitation of slum dwellers with participation of private developers using land as a resource
- Promotion of affordable housing for weaker section through credit linked subsidy
- Affordable housing in participation with public and private sectors
- Subsidy for beneficiary-led individual house construction.
Government of Karnataka Cabinet approved implementation of HFA on 16th December 2015. Bangalore was one of the urban areas selected.
In the budget presented on February 1st, 2017, Rs.6,042 crores was allocated for PMAY for urban areas. Also, greater participation of private developers was suggested.
Government of Karnataka Cabinet approved implementation of HFA on 16th December 2015. Bangalore was one of the urban area selected.
Written by Shalini Vasudeva