Affordable Housing Boost: PMAY-U Delivers 41,700 Rental Units
The government has completed 41,700 rental homes for Economically Weaker Sections (EWS) and Low-Income Groups (LIG) under the Affordable Rental Housing Complexes (ARHC) initiative, a sub-scheme of the Pradhan Mantri Awas Yojana-Urban (PMAY-U). The announcement was made in the Rajya Sabha, underscoring the scheme’s progress in providing affordable housing to vulnerable urban populations.
The ARHC initiative aims to provide accessible rental housing solutions for urban poor and migrant workers. It operates on a Public-Private Partnership (PPP) model, wherein existing government-funded vacant houses are converted into rental homes. Additionally, private and public entities are incentivized to construct, operate, and maintain rental housing complexes.
Thousands of Homes in Progress
The government revealed that apart from the completed units, 4,122 homes are currently under construction. The initiative supports urban migrant workers, laborers, and economically weaker individuals who lack permanent housing in cities, offering safe and affordable rental options.
Housing and Urban Affairs Minister Hardeep Singh Puri emphasized the program’s role in alleviating urban housing shortages. “This initiative not only supports the EWS and LIG population but also contributes to the broader vision of ‘Housing for All,'” he stated.
Private Sector Participation
The ARHC scheme encourages private sector engagement by offering financial incentives, including tax exemptions and concessions, to developers. This collaborative approach aims to accelerate the pace of construction and address housing gaps efficiently.
Addressing Urban Housing Needs
With urbanization increasing rapidly, the need for affordable housing is more pressing than ever. The ARHC initiative, part of the broader PMAY-U mission, seeks to bridge the gap by targeting specific demographics who face the greatest challenges in finding adequate housing.
The completion of these rental homes marks a significant milestone, reinforcing the government’s commitment to social welfare and urban development. Future projects under the scheme are expected to further bolster housing security for India’s economically vulnerable urban populations.
