Venkaiah Naidu launches 352 housing projects in 53 cities

Minister of Housing and Urban Poverty Alleviation M Venkaiah Naidu today launched 352 projects in 53 cities in 17 States across the country with an investment of Rs 38,003-cr to build 2,03,851 affordable houses.These housing projects would be implemented by the Confederation of Real Estate Developers’ Associations of India (CREDAI) across the country in the first major private investment in affordable housing.The Ministry of Housing and Urban Poverty Alleviation has so far approved construction of 17,73,052 affordable houses under the Prime Minister’s Awas Yojana (Urban) with an investment of Rs 95,660-cr in 30 States and Union Territories.Under the urban housing mission launched on June 25 last year, central assistance in the range of Rs 1-lakh to Rs 2.35-lakh will be provided to each beneficiary.The Government of India on December 31, 2017 extended the Credit Linked Subsidy Scheme component of PMAY (Urban) to Middle Income Groups with annual incomes in the range of Rs 12-lakh to Rs 18-lakh under which interest subsidy of 4 per cent and 3 per cent on housing loans will be provided.Speaking on the occasion, Mr Naidu complimented CREDAI and its members for coming forward to invest in affordable housing projects and assured them that his Ministry and Central Nodal Agencies like the National Housing Bank and HUDCO will extend full cooperation in reaching the benefits prescribed under PMAY (Urban) to the beneficiaries who join the projects launched.As per the details furnished by CREDAI, the cost of construction of these affordable houses will be in the range of Rs15-lakh to Rs 30-lakh with average cost of construction coming to Rs18-lakh per house.Gujarat Chief Minister Vijay Rupani, deputy Chief Minister Nitinbhai Patel, Minister of Urban Development Shankar Chaudhary, CREDAI president Jaxay Shah and more than 3,000 delegates from across the country attended the CREDAI investiture ceremony here.

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