HomeLatestUttarakhand Cabinet Eases Norms for Affordable Housing Scheme

Uttarakhand Cabinet Eases Norms for Affordable Housing Scheme

The Uttarakhand Cabinet has recently approved significant changes to the state’s housing policy, aimed at easing norms for the Pradhan Mantri Awas Yojana (PMAY) and expanding eligibility for economically weaker sections (EWS). These reforms are designed to make affordable housing more accessible to a broader segment of the population, promoting sustainable growth and development in the state.

Under the revised policy, the income limit for EWS beneficiaries has been increased from Rs 3 lakh to Rs 5 lakh per annum. EWS homes will have a carpet area of 30 square meters, with each unit priced at Rs 9 lakh. In addition to this, the state has introduced clearer criteria for other low-income groups. The Lower-Income Group (LIG), consisting of individuals earning between Rs 5 lakh and Rs 9 lakh, will be eligible for homes with a carpet area of 30 to 45 square meters, priced at Rs 14 lakh. Meanwhile, the Lower-Middle-Income Group (LMIG), with annual earnings between Rs 9 lakh and Rs 12 lakh, will be eligible for homes with a carpet area of 45 to 60 square meters, priced at Rs 25 lakh.

One of the key enhancements in the new policy is the increase in consumer subsidies. The subsidy for EWS, LIG, and LMIG beneficiaries has been raised from Rs 1.5 lakh to Rs 2 lakh, providing greater financial relief to these groups. Additionally, the state government has placed a special focus on promoting row housing in Uttarakhand’s hilly regions, offering subsidies to private developers for developing last-mile connectivity infrastructure. This initiative aims to address the unique challenges posed by the hilly terrain while ensuring that affordable housing is available even in remote areas. These changes reflect Uttarakhand’s commitment to addressing the housing needs of its residents, especially those from economically disadvantaged backgrounds, and promoting inclusive development throughout the state.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments

Bodoland Moves Ahead With Strategic Land Assembly for New Development Corridor

Bodoland Moves Ahead With Strategic Land Assembly for New Development Corridor

Authorities in the Bodoland Territorial Region have approved the acquisition of more than 400 bighas of land near Bismuri, setting the stage for a...
Noida Begins New Chapter in Media Infrastructure With Major Studio District Development

Noida Begins New Chapter in Media Infrastructure With Major Studio District Development

Construction activity has formally commenced on the first phase of a large-scale media and entertainment district in Noida, marking a significant step in Uttar...
Mumbai Becomes a Magnet for India’s Mobile Wealth as Luxury Housing Demand Widens

Mumbai Becomes a Magnet for India’s Mobile Wealth as Luxury Housing Demand Widens

Mumbai’s high-end residential market is increasingly attracting buyers from across India, signalling a shift in how affluent households view urban property ownership. Data from...
Aviom Restructuring Highlights Challenges In Affordable Housing Lending

Aviom Restructuring Highlights Challenges In Affordable Housing Lending

India’s affordable housing finance sector could witness a significant ownership transition as a resolution process involving nearly ₹936 crore moves towards completion, marking an...
Maharashtra Nifco Leases 22.3 Lakh Sq Ft For New Manufacturing Facility

Maharashtra Nifco Leases 22.3 Lakh Sq Ft For New Manufacturing Facility

A significant industrial space transaction in Maharashtra has highlighted the growing role of large-scale manufacturing investments in shaping the state's logistics corridors, employment centres...