PM housing scheme to acquire more funds

home-loans-Insert

The government may allocate Rs 3,000 crore to the National Housing Bank (NHB) to provide loans to housing finance companies and may also increase budgetary allocation for its flagship Pradhan Mantri Awas Yojna (PMAY), popularly known as ‘housing for all’ scheme.

While a group of secretaries (GoS) dealing with health, urban development and sanitation has made the recommendation for providing more funds to NHB, Housing Minister M Venkaiah Naidu has sought more money for the PMAY scheme in cities and towns. Though Naidu said that he had put this case before the finance minister, he did not disclose the specific amount that his ministry has requested for the housing programme.

The housing ministry has asked states to undertake a fresh demand survey to assess housing demand. A technical committee set up by the ministry had earlier estimated urban housing demand at nearly 1.9 crore. Initial reports from states have indicated the demand to be around 1.4 crore.