Budget 2024: Three crore more houses to be built under PMAY

New Delhi| Finance Minister Nirmala Sitharaman said that the government has a big focus on the Pradhan Mantri Awas Yojana. She said that 3 crore additional houses would be built under the plan. This is a positive news for the cement sector. The Finance Minister has announced a rental housing scheme for industry workers. It will be on PPP mode through VGF support. Rental housing for these workers will have dormitory type accommodation.

The Finance Minister said that the government’s emphasis on PM Awas Yojana will continue. An announcement to develop 14 big cities with a population of more than 3 million is made. She said that under PM Awas Yojana, urban housing will be planned for 1 crore houses with an investment of Rs 10 lakh crore and rupees 2 lakh crore will be made available for urban housing. She also added that under PMAY Urban Housing 2.0 a budget of ₹1 million crore will meet the housing needs of the people. The central government will provide an assistance amount of ₹2 lakh crore, and concessional rates will be offered for these housing projects.