- विज्ञापन -
New Delhi: Since its launch in mid-2015, the Pradhan Mantri Awas Yojana (PMAY-Urban) has steadily progressed in providing affordable housing. A recent report highlights that adopting adaptable, sustainable, and low-cost construction technologies could expedite the development of large-scale housing projects in the future.
As of January 20, 2025, the Ministry of Housing and Urban Affairs reported that 1.1864 crore homes have been sanctioned, with over 90.22 lakh units completed and around 112.50 lakh initiated. The central government has committed nearly Rs 200,000 crore in assistance.
Anuj Puri, Chairman of Anarock Group, emphasized that PMAY should reach a wider population and that increased awareness is essential. A key benefit of PMAY is the interest subsidy on home loans, alongside direct aid for individual home construction or improvements.
Puri noted that any announcements related to affordable housing in the upcoming Union Budget 2025-26 will likely involve PMAY. He believes that innovative solutions and strong political commitment can reinvigorate this crucial program.
The trend of rising prices is leading to a decline in luxury housing, which may result in a positive shift for the affordable housing market (units priced below Rs 40 lakh). Significant budgetary announcements for this segment could bolster its growth, enhancing the overall housing market by catering to a diverse set of buyers, rather than just one segment.
Post-pandemic, there has been a marked change in housing demand, with many Indians now seeking larger homes that offer multifunctionality and a range of lifestyle amenities.
