3, 500 homes to be constructed under PMAY by Pune civic body

Citizens from the economically weaker sections (EWS) may get their own homes in 2019 as per reports. More than 3, 500 homes may be built under the affordable housing scheme by the Pune civic body after getting the nod from the State Government. The civic body will offer its own land for developing these homes and most of them will be finished by 2019 according to reports. These homes will be built as part of the PMAY (Pradhan Mantri Awas Yojana) scheme.

There are open civic plots that will be provided for these homes. More than 3, 500 homes will be built on the land owned by PMC as per reports. The Government in Pune has already given its approval for this project. Along with plots owned by PMC, real estate developers will also be constructing affordable homes on private plots of land. Close to 6, 000 homes are being planned for needy citizens. The civic body has reportedly received close to 1.5 lakh applications as claims on the homes. Applications were taken from both offline and online channels.

Home allotment will be done via the lottery system. The dates for the same will soon be announced as per the authorities. Some homes under the scheme are expected to be ready by next year. The Central Government under PMAY offers assistance for urban local bodies for rehabilitating slum dwellers. Land is tapped as a resource via private participation, affordable housing, CLSS and construction subsidy for individual homes. More than 2 lakh homes will be constructed as part of this project throughout the country as per the target of the Central Government.

Projects which are approved, will be implemented with assistance garnered from both State and Central Governments along with beneficiary contributions.  Construction costs for these homes will range between Rs.15-30 lakhs with the average cost standing at roughly Rs. 18 lakh per home. Around 352 housing projects will be developed across 53 cities and 17 states with the total investment exceeding Rs. 38, 000 crore according to estimates. Pune needs more affordable housing units to fill up the big gap in this segment which several studies and reports have previously highlighted. The deficit of affordable units in Pune was earlier estimated at anywhere between 2.5-3 lakh units and this could get doubled within the next 5 years.