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All PMAY houses to be sanctioned by March 2020
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SME Times News Bureau | 20 Aug, 2019
The government would sanction all the targeted 1.12 crore houses under
the Pradhan Mantri Awas Yojana (PMAY) by March 2020, said Union Minister
for Housing and Urban Affairs Hardeep Singh Puri at the 15th annual
convention of the National Real Estate Development Council (NAREDCO),
here on Tuesday.
Of the initial target of 1 crore houses in urban India, 84 lakh had been sanctioned, he said on the sidelines of the event.
"We
have sanctioned 84 lakh houses. I have full faith that by December
2019, all the 1 crore houses will be sanctioned. The additional demand
of 12 lakh houses, which has raised our target to 1.12 crore, will be
sanctioned in the first three months 2020," Puri said.
Hoping
that houses will completed in a timely manner, he said 24 lakh homes had
been handed over to the PMAY beneficiaries. "We have done grounding of
48 lakh houses. This figure will soon reach 75 lakh. We have handed over
24 lakh houses and that figure will soon touch 50 lakh," he said.
Puri
also said the Real Estate (Regulation and Development) Act (RERA) had
removed many aberrations. But as the Act was just two-year-old, it could
not be expected to solve all problems at one go, he added.
"We
are in the process of streamlining RERA procedures. But by and large,
the regulator (Real Estate Regulatory Authority) has come to be accepted
by all stakeholders," the Minister said.
The statement has come a
day after Union Housing and Urban Affairs Secretary Durga Shanker
Mishra said the government was working towards amending several
provisions of the RERA, which would benefit both developers and
homebuyers.
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