Funding gap may stump ‘Housing for All’ goal

Funding gap may stump ‘Housing for All’ goal

Subject: Government Schemes

Context: The government‘s promise to provide ‘Housing for All’ by 2022 faces a severe funding crunch even as implementation is running behind schedule.

Concept:

PMAY-HFA

• The Housing for All/Pradhan Mantri Awas Yojana was launched in 2015 with an aim to provide affordable housing to urban poor by 2022.
• It is proposed to build around 2 crore houses for urban poor including Economically Weaker Sections and Low Income Groups, with central assistance in the range of Rs.1 lakh to Rs.2.30 lakh.
• This Mission has four components namely:

In-situ Slum Redevelopment with private sector participation using land as resource.

Affordable Housing through Credit Linked Subsidy.

Affordable Housing in Partnership with private and public sector.

Beneficiary led house construction/enhancement.

• Appreciably, affordable housing has recorded a considerable growth in recent months.
• This comes as a result of mission-mode implementation, new found infrastructure status and better inflow of formal credit to the segment.
• The uptake among slum dwellers for affordable housing is closely related to the balance of benefits and costs.