National
Centre announces new PPP Policy to promote private investments in affordable housing
Mumbai, Sep 21 (IANS) The Centre on Thursday announced a new Public Private Partnership (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 land.
Besides, it will also open up immense potential for private investments in affordable housing projects on government lands in urban areas.
Minister of Housing and Urban Affairs Hardeep Singh Puri announced the policy that gives various PPP (Public Private Partnership) options for private sector to invest in affordable housing segment.
He was addressing the ‘Real Estate & Infrastructure Investors Summit-2017’ organized by real estate body NAREDCOn here.
Puri explained that this policy seeks to assign risks among the government, developers and financial institutions, to those who can manage them the best besides leveraging under utilized and un-utilized private and public lands towards meeting the Housing for All target by 2022.
The two PPP models for private investments in affordable housing on private lands include extending central assistance of about Rs.2.50 lakh per each 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 each house to be built on private lands would be provided, in case the beneficiaries do not intend to take bank loans.
Puri stated that eight PPP options, including six for promoting affordable housing with private investments using government lands have been evolved after extensive consultations with states, promoter bodies and other stakeholders.
The six models using government lands are: DBT Model: Under this option, private builders can design, build and transfer houses built on
government lands to public authorities. Government land is to be allocated based on the least cost of construction. Payments to builders will be made by the public authority based on progress of project as per agreed upon milestones and buyers will pay to the Government.
Mixed Development Cross -subsidized Housing : Government land to be allotted based on number of affordable houses to be built on the plot offered to private builders, cross subsidizing this segment from revenues from high end house building or commercial development.
Annuity Based Subsidized Housing: Builders will invest against deferred annuity payments by the Government. Land allocation to builders is based on unit cost of construction.
Annuity-cum-Capital Grant Based Affordable Housing: Besides annuity payments, builders could be paid a share of project cost as upfront payment.
Direct Relationship Ownership Housing: As against government mediated payments to builders and transfer of houses to beneficiaries in the above four models, under this option, promoters will directly deal with buyers and recover costs. Allocation of public land is based on unit cost of construction.
Direct Relationship Rental Housing: Recovery of the costs by builders is through rental incomes from the houses built on government lands.
Under these six Government land based PPP models, beneficiaries can avail central assistance of Rs.1.00 to Rs.2.50 lakh per house as provisioned under different components of PMAY(Urban). Beneficiaries will be identified as per the norms of PMAY(Urban).
Puri expressed concern over the private sector so far not entering affordable housing segment despite huge scope for the same under Pradhan Mantri Awas Yojana(Urban) and an enabling eco-system put in place through several concessions and incentives offered including the grant of
infrastructure status for this segment.
Referring to the‘’Way Forwar” for heralding a new era of growth in real estate sector suggested
by KPMG and NAREDCO in a publication last month, Puri said the Government has already initiated action in respect of each of the suggestions
made therein.
Elaborating on this, Puri said that only last week he announced a time-bound review of FSI/FAR norms in 53 cities with a population of million and above each and State capitals to enable better utilization of scarce urban land parcels.
The Minister said that a view would soon be taken on allowing urban housing projects in peripheral villages and talks are going on this regard with the Ministry of Rural Development. Online mechanism for time bound approvals for building plans and construction permits has already been
introduced in Mumbai and Delhi and the same would happen soon in 53 cities with population of above one million each, he said. Shri Puri informed that Model Tenancy Act and National Rental Housing Policy would be announced soon.
Puri exhorted private developers to seize the investment opportunities in affordable housing in the prevailing enabling environment saying‘”It is time to stop debate and swing into action.
–IANS
vsc/vm
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
