Speed Post News Network
New Delhi : The Central Government on September 21, 2017, announced a new PPP Policy for Affordable Housing that allows extending central assistance of up to Rs 2.50 lakh per house to be built by private builders even on private lands besides opening up immense potential for private investments in affordable housing projects on government lands in urban areas.
Minister of Housing & Urban Affairs (HUA) Hardeep Singh Puri announced this policy that gives eight PPP (Public Private Partnership) options to private sector to invest in affordable housing segment. He was addressing the ‘Real Estate & Infrastructure Investors Summit-2017’ organized by real estate body NAREDCO in Mumbai, according to aPIB release.
The two PPP models for private investments in affordable housing on private lands include extending central assistance of about Rs 2.50 lakh per house as interest subsidy on bank loans as upfront payment under the Credit Linked Subsidy Component (CLSS) component of Pradhan Mantri Awas yojana (Urban). Under the second option, central assistance of Rs 1.50 lakh per house to be built on private lands would be provided, in case the beneficiaries do not intend to take bank loans.