UP govt to launch PMAY 2.0 for housing subsidies
Real Estate

UP govt to launch PMAY 2.0 for housing subsidies

Individuals and families seeking subsidies for their first house could receive some important updates on Wednesday. The second edition of the Prime Minister Awas Yojana (PMAY 2.0) is set to launch, with discussions between the state and central governments focusing on the roadmap for delivering homes to both urban poor and underprivileged rural families.

The Ministry of Housing and Urban Affairs (MoHUA) and the power minister, Manohar Lal Khattar, would visit the city to meet with officials from the housing and urban development department, as well as the power department, to review the progress of various central schemes being implemented in the state. In the first phase, Uttar Pradesh became the second state in the country to provide nearly 36 lakh houses to rural poor families and 17.80 lakh houses to urban poor families.

Meanwhile, the housing department has begun work on notifying policy changes to align its framework with the one stipulated by the central government under the PMAY 2.0 scheme. The Principal Secretary of the housing department, P. Guruprasad, stated that a team of officials had been assigned to examine the matter and recommend the necessary revisions.

A senior officer from the department revealed that MoHUA had suggested providing a 50% additional floor area ratio (FAR) with a transfer of development rights (TDR) facility free of cost for housing projects intended for economically backward and low-income families. Another recommendation under consideration is the creation of a single-window platform to ensure time-bound approval of layouts and building plans within 60 days.

Furthermore, MoHUA had recommended offering exemptions from paying land conversion and land use change charges, should such requests from agencies undertaking PMAY projects be feasible under the existing rules.

MoHUA has shared 10 key points for deliberation with the state before the scheme's launch, which will be discussed in the upcoming meeting on Wednesday.

Principal Secretary of the urban development department, Amrit Abhijat, mentioned that following discussions and deliberations, a memorandum of understanding (MoU) agreement would be signed between the two sides to move the process forward.

Individuals and families seeking subsidies for their first house could receive some important updates on Wednesday. The second edition of the Prime Minister Awas Yojana (PMAY 2.0) is set to launch, with discussions between the state and central governments focusing on the roadmap for delivering homes to both urban poor and underprivileged rural families. The Ministry of Housing and Urban Affairs (MoHUA) and the power minister, Manohar Lal Khattar, would visit the city to meet with officials from the housing and urban development department, as well as the power department, to review the progress of various central schemes being implemented in the state. In the first phase, Uttar Pradesh became the second state in the country to provide nearly 36 lakh houses to rural poor families and 17.80 lakh houses to urban poor families. Meanwhile, the housing department has begun work on notifying policy changes to align its framework with the one stipulated by the central government under the PMAY 2.0 scheme. The Principal Secretary of the housing department, P. Guruprasad, stated that a team of officials had been assigned to examine the matter and recommend the necessary revisions. A senior officer from the department revealed that MoHUA had suggested providing a 50% additional floor area ratio (FAR) with a transfer of development rights (TDR) facility free of cost for housing projects intended for economically backward and low-income families. Another recommendation under consideration is the creation of a single-window platform to ensure time-bound approval of layouts and building plans within 60 days. Furthermore, MoHUA had recommended offering exemptions from paying land conversion and land use change charges, should such requests from agencies undertaking PMAY projects be feasible under the existing rules. MoHUA has shared 10 key points for deliberation with the state before the scheme's launch, which will be discussed in the upcoming meeting on Wednesday. Principal Secretary of the urban development department, Amrit Abhijat, mentioned that following discussions and deliberations, a memorandum of understanding (MoU) agreement would be signed between the two sides to move the process forward.

Next Story
Resources

IRB Infrastructure Trust to offer 5 of its matured Highway Assets

IRB Infrastructure Trust, the Private InvIT, an associate of IRB Infrastructure Developers, India’s leading multinational transport infrastructure developer in the roads and highways sector, has announced a non-binding offer to transfer five matured highway assets to the IRB InvIT Fund, a publicly listed InvIT platform. The proposed transfer is subject to, amongst others, execution of definitive documents and the receipt of necessary approvals.Commenting on the development, Virendra Mhaiskar, Chairman and Managing Director of the Sponsors, said, “This transfer is a key step in our bid, exe..

Next Story
Infrastructure Urban

US oil industry urges Trump to ditch Biden climate policies

The U.S. oil and gas industry called on President-elect Donald Trump to scrap many of President Joe Biden's policies aimed at fighting climate change, saying the measures threaten jobs, consumer choice and energy security. The American Petroleum Institute (API), the nation's top oil and gas trade group, urged Trump's incoming administration to do away with vehicle emissions standards meant to move the auto industry to produce more electric vehicles, lift a pause on export permits for liquefied natural gas facilities and work with Congress to repeal a fee on methane emissions from drilling oper..

Next Story
Infrastructure Energy

Oil trims losses on tight near-term supply

Oil prices edged up on signs of near-term supply tightness but remained near their lowest in two weeks a day after OPEC downgraded its forecast for global oil demand growth in 2024 and 2025.Brent futures rose 13 cents or 0.18% to $72.02 a barrel by 0205 GMT, and U.S. West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.19 % , to $68.25. "Crude oil prices edged higher as tightness in the physical market offset bearish sentiment on demand. Buyers in the physical market have been particularly active, with any available cargoes being snapped up quickly," ANZ analysts said in a note. B..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000