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

UltraTech Cement Raises Funds For Infrastructure Growth

UltraTech Cement Raises Funds For Infrastructure Growth

India’s largest cement producer has approved the allocation of ₹5,000 crore through Non Convertible Debentures (NCDs), reinforcing a broader trend of using long term...
Kansai Nerolac Expands Paint Manufacturing Capacity

Kansai Nerolac Expands Paint Manufacturing Capacity

Kansai Nerolac Paints has approved a capital investment of ₹597 crore to expand its manufacturing capacity, signalling continued confidence in India’s long term demand...
India Steel Consumption Drives Urban Expansion

India Steel Consumption Drives Urban Expansion

India’s steel industry has entered a new phase of expansion, with both production and domestic demand reaching fresh highs as infrastructure construction, manufacturing and...
Tata Steel Strategy Supports Industrial Transition

Tata Steel Strategy Supports Industrial Transition

India’s largest steel producers are increasingly relying on domestic demand to offset uncertainty in overseas markets, with Tata Steel expansion plans in India emerging...
Jindal Stainless Profit Signals Stronger Steel Value

Jindal Stainless Profit Signals Stronger Steel Value

India’s stainless steel sector began the financial year with a mixed operational picture as Jindal Stainless reported higher quarterly profitability despite softer sales volumes,...