CREDAI Members Launch 350 Affordable Housing projects
To invest Rs. 38,000 crore to build 2 lakh dwellings in
53 cities, across 17 States
Private real-estate developers on April 9, 2017 launched
352 projects in 53 cities across 17 States with an investment of Rs. 38,000
crore to build 2,03,850 affordable houses.
“These housing projects are to be taken up by the members
of CREDAI (Confederation of Real Estate Developers’ Associations of India)
across the country in the first major private investments into affordable
housing,” according to an official statement.
The projects were launched by
Minister of Housing and Urban Poverty Alleviation M Venkaiah Naidu at Ahmedabad.
Maharashtra has the highest investment in the affordable
housing scheme with 1,03,720 houses to be built across Mumbai, Nagpur,
Ahmednagar, Jalna, Banm, Nashik, Malegaon, Pune, Satara and Solapur with an
investment of Rs. 15,575 crore.
Gujarat comes second with 28,465 houses to be built
across Ahmedabad, Gandhinagar, Rajkot, Mehsana, Bharuch, Bhavnagar, Navsari,
Modasa, Palanpur, Swarnakantha, Vadodara, Vapi, Surat at an investment of Rs.
9,525 crore. The National Capital Region comes third with 41,921 houses to be
built with an investment of Rs. 6,211
crore.
As per the details furnished by CREDAI, the cost of
construction will be Rs. 15-30 lakh, with the average cost of construction
coming to Rs. 18 lakh per house.
Awas Yojana
The statement also noted that the Ministry of HUPA has so
far approved the construction of 17,73,050 affordable houses under Prime
Minister’s Awas Yojana (Urban) with an investment of Rs. 95,660 crore in 30
States and Union Territories.
These approved projects are to be executed with
assistance from the Central and State governments and beneficiary contribution
under the four components of the Awas Yojana (Urban). Under the urban housing
mission, Central assistance of Rs. 1-2.35 lakh will be provided to each
beneficiary. The Yojana was launched by Prime Minister Narendra Modi on June
25, 2015.
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