FCC

Maharashtra steps up measures to implement PMAY scheme

2018-10-26

The Maharashtra Cabinet has given its approval for the constitution of a state housing development corporation to accelerate the execution of the Pradhan Mantri Awas Yojana (PMAY) scheme. As reported, the corporation will speed up the Prime Minister?s housing scheme as well as mega housing projects.

The state government is planning to finish half a million houses for the economically backward classes and low and middle-income group beneficiaries. Affordable housing will be available through the state?s MahaHousing.

Maharashtra reportedly eyes completing 1.94 million houses under the PMAY scheme by the end of 2022. It is known to have received approval from the Centre for bringing up such houses in cities across the state. The project will come up in a JV scheme as well as through public-private partnerships.

The implementation of the scheme in a time-restricted manner did not require the formation of a separate agency other than the Maharashtra Housing and Development Authority. For this reason, it has been decided to constitute MahaHousing. Fund-raising will reportedly be done by the corporation from the Slum Rehabilitation Authority (SRA), MHADA, ShivShahi Punarvasan Prakalp (SPPL) and through investments from other agencies. Funds may also be raised from the market and banks.

The corporation will be chaired by the Chief Minister, and the Housing Minister will take up the role of additional president. The tenure of the corporation will run till 2022 or till the PMAY target is achieved.