Comment on PM's approval of extending PMAY to 3 crore more homes by Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd
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Below the Comment on PM's approval of extending PMAY to 3 crore more homes by Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd
"In a visionary move, the newly formed cabinet has approved the construction of an additional 3 crore rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY). This decision reinforces the government's commitment to "housing for all" and introduces a significant enhancement: a higher eligible carpet area under the PMAY-Urban (PMAY-U) scheme, compared to the earlier Credit Linked Subsidy Scheme (CLSS).
By expanding carpet area eligibility, the government is addressing critical challenges faced by potential homebuyers in the affordable and mid-housing segments. This progressive step is expected to increase home ownership opportunities for urban and rural populations, ensuring broader access to housing and promoting socio-economic stability. The new scheme is poised to make a substantial impact on the housing sector, encouraging developers to prioritize affordable housing projects and ultimately boosting the overall housing supply in the country."
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