Over 2 crore affordable houses to be built by 2019
The government said on Tuesday that a universal affordable housing scheme will give a big boost to the construction industry as 1.2 crore dwellings will be built in three years under PMAY’s urban component and another 1.02 crore units under its rural component by March 2019.
“The universal affordable housing for all will give a big boost to the construction industry,” Finance Secretary Ashok Lavasa told the media in the presence of Finance Minister Arun Jaitley after a Union Cabinet meeting here.
Lavasa said 1.2 crore units under the Pradhan Mantri Awas Yojana or PMAY (Urban) would entail an expenditure of Rs 1,85,069 crore in three years. He said under PMAY (Gramin) 1.02 crore units would be built at a cost of Rs 1,26,795 crore by the Centre and states by March 2019. Lavasa said 51 lakh units will be built this year.