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Cabinet Approves Developing of ARHCs for Urban Migrants/Poor under PMAY-U

Awas Yojana.The Union Cabinet recently approved development of Affordable Rental Housing Complexes for urban migrants and the poor, as a sub-scheme under the Pradhan Mantri
Under the proposal, vacant government housing complexes will be converted into ARHCs under a concession agreement for 25 years. After the completion of the term, the complexes will once again become urban local bodies, to enter the next cycle. The scheme will initially cover three lakh beneficiaries, and will cost Rs 600 crore.

Key Highlights

  • A large part of workforce in manufacturing industries, service providers in hospitality, health, and construction or other sectors etc who come from rural areas seeking better opportunities will be target beneficiaries.
  • The government will also offer special incentives like use permission, 50% additional Floor Area Ratio or Floor Space Index, concessional loans at priority sector lending rates and tax reliefs, to companies to develop ARHCs on their own vacant land for 25 years.
  • ARHCs will create a new ecosystem in urban areas making housing available at affordable rent close to places of work and will cut down unnecessary travel, congestion and pollution,” the proposal for the scheme said. The investment under ARHCs is expected to create new job opportunities.
  • Concessionaire will make the complexes livable by repair/retrofit and maintenance of rooms and filling up infrastructure gaps like water, sewer/ septage, sanitation, road etc. States/UTs will select concessionaire through transparent bidding.
  • Special incentives like use permission, 50% additional FAR/FSI, concessional loan at priority sector lending rate, tax reliefs at par with affordable housing etc. will be offered to private/ public entities to develop ARHCs on their own available vacant land for 25 years.
  • An expenditure of Rs 600 Crore is estimated in the form of Technology Innovation Grant which will be released for projects using identified innovative technologies for construction. Approximately, three Lakh beneficiaries will be covered initially under ARHCs.

SOURCE: Livemint, Business Standard

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