Tag: PMAY-Urban

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Odisha to Convert Vacant Government Buildings into Affordable Housing

Representative AI image BHUBANESWAR: The Odisha government is taking steps to identify vacant and unused state-owned buildings in urban areas to convert them into affordable rental housing, as stated in an official document. The initiative aims to improve housing options for the urban poor and working class. Usha Padhee, Additional Chief Secretary of the Housing & Urban Development Department, directed key departments to identify underutilized assets within their control and to report this information to the Odisha Urban Housing Mission (OUHM). Padhee emphasized that housing is essential for urbanization, impacting health, stability, education, and economic opportunities for families. Previously, housing…

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Home loans surge nearly 4x to ₹37 lakh crore by March 2025

NEW DELHI: According to the Economic Survey 2025-26, housing finance has seen a significant expansion, with outstanding individual home loans increasing nearly fourfold to ₹37 lakh crore by the end of March 2025. The share of home loans in relation to GDP grew from 8% in 2015 to 11% in 2024-25, indicating robust growth in this sector. Post-COVID, housing sales have surged, further driving demand for home loans. The report states, “The ‘real estate and ownership of dwellings’ sector has contributed approximately 7% to annual GVA on average over the past decade, underscoring its critical role in services-led growth and…

Latest StoriesResidential

Affordable housing drops to 17% in 2025: Economic Survey

NEW DELHI: The aspiration of homeownership is becoming increasingly out of reach for low-income groups in India, as the availability of affordable housing takes a significant downturn. The Economic Survey 2025-26 reveals that the percentage of affordable housing units, priced under ₹50 lakh, in India’s eight major cities plummeted from 52.4% in 2018 to a mere 17% by 2025. This substantial drop occurs amidst a forecast that demand for such housing will hit 30 million units by 2030. Currently, the overwhelming majority of this shortfall is among low-income groups, which represent 99% of the housing deficit in recent years. The…

Latest StoriesResidential

Centre Approves 1.41 Lakh New Houses under PMAY-Urban 2.0

File photo NEW DELHI: The Union Ministry of Housing and Urban Affairs has sanctioned the construction of an additional 141,000 houses under Pradhan Mantri Awas Yojana-Urban 2.0, bringing the total of approved housing units under this scheme to over 1 million. According to a statement, this decision was made during a meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Housing and Urban Affairs Secretary Srinivas Katikithala, on Wednesday. The new approvals span 14 states and Union Territories, including Assam, Andhra Pradesh, Chhattisgarh, Gujarat, Jammu and Kashmir, Puducherry, Rajasthan, Tamil Nadu, Madhya Pradesh, Meghalaya, Haryana, Odisha, Uttarakhand, and…

Latest StoriesResidential

UP Government Approves ₹736 Crore for PMAY Urban Housing

LUCKNOW: On Friday, the state government announced its budget for housing projects under the Pradhan Mantri Awas Yojana (PMAY) for the 2025-26 financial year, allocating Rs 736 crore to provide housing for urban poor families across the state. This scheme aims to offer accommodation to underprivileged and economically weaker families, with joint efforts from both central and state governments. Once a family qualifies, grants and subsidies will be provided to assist them financially. Documentation, including geo-tagging and photographs of the home at various construction stages, will be uploaded to claim these benefits. Published On Sep 13, 2025 at 03:07 PM…

Latest StoriesResidential

Andhra CM: Speed Up Welfare Housing for Poorer Sections

AMARAVATI: Andhra Pradesh Chief Minister N Chandrababu Naidu announced on Wednesday plans to expedite welfare housing initiatives for economically disadvantaged groups. His target is to complete 10 lakh houses by March 2026. Naidu envisions that three lakh houses should have their housewarming ceremonies next month, while two lakh additional homes should be allocated to beneficiaries by the Sankranti festival. “Every poor family in the state should have their own home. The welfare housing initiatives must be realized swiftly. We aim to reach one million houses by March 2026,” Naidu stated in a press release. In a review of the housing…

Latest StoriesResidential

Over 11,000 Homes Built by Ranchi Under PMAY-Urban

RANCHI: The Ranchi Municipal Corporation (RMC) celebrated the 10th anniversary of the Pradhan Mantri Awas Yojana (Urban) (PMAYU) on Saturday, commemorating a decade since its launch on June 25, 2015. The event showcased RMC’s achievements in providing dignified housing under the national “Housing for All” initiative. Over the past ten years, RMC has completed 11,052 houses out of a sanctioned 12,587, resulting in an impressive 88% completion rate. From January to June this year, an additional 183 houses have been allocated to beneficiaries. The festivities included griha pravesh ceremonies in five wards, including Burdman Compound, where five new families, aided…