Rs 42 cr allocated for housing & urban affairs

While talking to reporters on the budget allocation, Puri said that the outlay for Pradhan Mantri Awas Yojna – Urban (PMAY-U) has been increased by Rs 25,000 crore in extra-budgetary resources for the implementation of the housing scheme in the financial year 2018-2019.

"It will be raised outside general budget. The budgetary support is Rs 6,500 crore which translates into an effective enhancement of 520 per cent over previous year. The coverage in PMAY(U) is in 4,320 cities which includes 472 class – 1 cities," the minister said.

"Around 37.45 lakh dwelling units in 7,474 projects with an investment of Rs 2,03,752 crore involving the Central assistance of Rs 57,681 crore have been accepted under PMAY in the last 31 months. Out of this, 19.49 lakh houses have been grounded and 3,19,648 houses have already been completed," Puri

said, adding that a total of 2,78,267 houses have been occupied.

The minister further added that there is a 54.2 per cent hike in budget allocation for Smart City Mission during 2018-19 as a total investment of Rs 2,03,979 crore proposed for 99 smart cities.

"The budget has been specifically emphasized on the development of overall infrastructure, which would encourage the real estate industry in a holistic way. We appreciate the decision taken by the government in this direction," said Amit Modi, who is a director at ABA Corp and vice president, CREDAI western UP.

The scope of the credit linked subsidy scheme (CLSS) for EWS/LIG has been expanded to include the middle-income group (MIG) with effect from January 1, 2017 covering two income categories between Rs 6 lakh and Rs 12 lakh (MIG-I) and between Rs 12 lakh and Rs 18 lakh (MIG-II) household income.

"Rs 6,000 crore have been allocated for the AMRUT

mission during 2018-19 as against last year's allocation of Rs 5,000 crore which is an increase of 20 per cent," the minister said.