The State Housing Department in Maharashtra has set a target of building approximately 7.27 lakh houses under the Pradhan Mantri Awas Yojana scheme.
Pradhan Mantri Awas Yojana (PMAY) is a well-known credit-linked subsidy scheme launched and implemented by the Indian Government to provide affordable housing options to low- and moderate-income residents.
The Government of India now plans to implement their PMAY scheme in Maharashtra by building 7.27 lakh affordable houses. Approximately 60% of the total project is in the different stages of construction.
According to an official, the major portion of these houses will be located in the Mumbai Metropolitan Region Development Authority (MMRDA) and the Pune Metropolitan Region Development Authority (PMRDA), besides Nagpur and Aurangabad regions.
He said, "Over 1 lakh units will be in Mumbai, followed by 50,000-60,000 houses in Pune, Nagpur and Aurangabad regions". The official also said the target was revised after removing the slum rehabilitation project. Covid-19 also impacted the deadline to 2024, which was 2022 previously.
An official of the State Housing Department said that Maharashtra is expecting approximately Rs 8,000 crore from the centre, which will be a part of the subsidy by the Indian Government. Also, the State Housing Department said that the banks and the NGOs will help beneficiaries procure the houses through the Maharashtra Housing Corporation.
Posted By
Ruchi Mane
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Ruchi Mane is the Senior Editor at Houssed, leading the platform’s real estate news coverage. She tracks trends in India’s luxury property market while overseeing editorial strategy, PR outreach, and social media communication.