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

Thane Realty Auction Signals Land Market Shift

Thane Realty Auction Signals Land Market Shift

A major land parcel in Thane is set to be auctioned by lenders with a reserve price of approximately ₹1,375 crore, marking one of...
Bengaluru Technology Corridor Attracts Large Office Lease

Bengaluru Technology Corridor Attracts Large Office Lease

One of the largest office leasing transactions of the second quarter has reinforced Bengaluru's position as India's leading commercial real estate market, with a...
Chennai Hospitality Investment Strengthens Tourism Infrastructure

Chennai Hospitality Investment Strengthens Tourism Infrastructure

Fresh investment in Chennai's hospitality sector is set to expand the city's accommodation capacity, with Brigade Hotel Ventures outlining plans to invest around ₹1,100...
Thane Kalwa Land Sale Signals Redevelopment Push

Thane Kalwa Land Sale Signals Redevelopment Push

A nine-acre land parcel in Kalwa, on the eastern edge of the Mumbai Metropolitan Region, is set to change ownership in a transaction valued...
Delhi Luxury Housing Sees Strategic Land Acquisition

Delhi Luxury Housing Sees Strategic Land Acquisition

A land parcel in central Delhi has been acquired for approximately ₹200 crore for a proposed premium residential development, reflecting sustained investor confidence in...