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Updated on: Thursday, May 30, 2019, 03:24 AM IST

No takers to build 32 lakh affordable flats

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New Delhi : The government is upset over the private developers and builders taking no interest in its Pradhan Mantri Awas Yojana (PMAY) of building 32 lakh low-cost flats in cities and towns across the country.

They showed no interest in pursuing the project even after Finance Minister Arun Jaitley offered several sops in the Union budget early this year to attract them for building the affordable houses to ensure the people migrating to the urban areas secure residence without any difficulty.

Nobody was coming forward because of the high cost of land making it difficult to build the affordable multi-storeyed residential buildings envisaged in the plan, besides the cumbersome approval process and vagueness of the scheme.

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In yet another attempt to woo the developers, the Housing and Urban Affairs Ministry came out this week with not one or two but eight kinds of proposals to get the PMAY going, offering different schemes for implementation on the private and government lands.

Two schemes are meant for building on the private land while six others on the government land under different Public Private Partnership (PPP) models, offering the central subsidy to the beneficiaries buying the flats.

The government land will be allotted through bidding to the builder offering the lowest cost of construction.

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Published on: Sunday, September 24, 2017, 12:08 AM IST
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