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

India Chemical Imports Test Industrial Resilience

India Chemical Imports Test Industrial Resilience

Geopolitical instability across West Asia is reshaping India’s chemical import network,prompting manufacturers to diversify sourcing as disruptions to Gulf shipping and supply chains alter...
Hyderabad Cement Sector Eyes Urban Construction

Hyderabad Cement Sector Eyes Urban Construction

Investor attention has returned to Sagar Cements as improving demand from infrastructure projects and residential construction reshapes expectations for regional cement producers. Market observers believe...
India Scrap Metal Supply Raises Industry Concerns

India Scrap Metal Supply Raises Industry Concerns

India is seeking greater certainty over future access to European scrap metal supplies as the European Union prepares to tighten export rules aimed at...
India Infrastructure Push Boosts Stainless Steel Use

India Infrastructure Push Boosts Stainless Steel Use

India’s long term economic roadmap is placing renewed emphasis on expanding the use of stainless steel across infrastructure,manufacturing and public utilities,reflecting the material’s growing...
Eswari Global Metal Recycling Seeks Market Capital

Eswari Global Metal Recycling Seeks Market Capital

Metal products manufacturer Eswari Global Metal Industries has initiated the process to access India’s public capital markets by filing preliminary documents for an initial...