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

Maharashtra RERA Faces Fresh Investment Test

Maharashtra RERA Faces Fresh Investment Test

Maharashtra’s real estate market is heading into a fresh investment cycle as a major industry summit in Mumbai seeks commitments of more than ₹10,000...
India Real Estate Launches Face Fresh RERA Test

India Real Estate Launches Face Fresh RERA Test

India’s housing market is entering a crucial September as developers prepare a cluster of large residential launches across the NCR, Mumbai, Bengaluru, Chennai and...
India Cement Demand Lifts Limestone Market Outlook

India Cement Demand Lifts Limestone Market Outlook

India’s construction economy could face a gradual shift in the materials feeding its cement and industrial base as global limestone demand moves towards higher-quality...
Press Metal Outlook Shifts As Aluminium Supply Rises

Press Metal Outlook Shifts As Aluminium Supply Rises

Aluminium industry is heading towards a more uncertain supply cycle, with new smelting capacity in Indonesia and India expected to reshape global availability from...
India Steel Capacity Push Raises RERA Questions

India Steel Capacity Push Raises RERA Questions

India is preparing for a major expansion in steel-making capacity, with crude steel capacity projected to reach 300 million tonnes by 2030-31 and 400...