(GIST OF YOJANA) FIRST LARGEST PRIVATE INVESTMENT INITIATIVE IN AFFORDABLE HOUSING - JULY-2017

(GIST OF YOJANA) FIRST LARGEST PRIVATE INVESTMENT INITIATIVE IN AFFORDABLE HOUSING - JULY-2017

Over 352 housing projects in 53 cities in 17 States across the country with an investment of over Rs.38,000 cr to build over two lakh houses were launched at and hinagar, Gujarat recently. These housing projects to be taken up by the members of Confederation of Real Estate Developers' Associations of India (CREDAI) across the country is the first major private investments initiative into affordable housing. The event was held in the backdrop of several initiatives by the Government of India to promote affordable housing for Economically Weaker Sections, Low and Middle Income Groups including sanction of 'infrastructure status' for the housing sector. Since the launch of PMAY (Urban) in June, 2015, the Ministry of Housing and Urban Development has approved construction of 17.73 lakh affordable houses for urban poor with an investment of Rs.95,660 cr in 30 States and Union Territories. For building these houses, central assistanc of Rs. 27,879 cr has also been approved. PMAY (Urban) was launched by the Prime Minister on June 25, 2015.

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