Scheme launched for providing Affordable Rental Housing Complexes
Two dozen states and UTs have come on board to implement the scheme for Affordable Rental Housing Complexes (ARHCs), aimed at providing affordable rental accommodation to the working class in cities and towns. The housing and urban affairs ministry on Wednesday launched a portal for implementation and getting updated progress of the scheme.
Officials said that now the municipal bodies can float Expression of Interest from private players who are keen to maintain and manage the vacant housing complexes built with the government and rent them out at a rate to be fixed by the respective authorities. Launching the portal, Union minister Hardeep Singh Puri said the government is extending many incentives, including 50% free floor space index, concessional project finance and free-of-cost trunk infrastructure facilities to push participation in scheme for urban poor and migrants. He said, “I’ll personally write to CMs of states that are yet to sign it.”
The scheme under Pradhan Mantri Awas Yojana – Urban has been taken up to provide dignified and affordable living spaces to varied groups of urban migrants and poor including industrial & construction workers, migrants working with market associations, educational and health institutions, hospitality sector, long term tourists or visitors and students.
Incentives and benefits including free floor area ratio, concessional project finance, trunk infrastructure facilities free of cost will be a part of the Affordable Rental Housing Complexes (ARHCs) for urban migrants and poor, union minister for housing and urban affairs Hardeep Singh Puri said on Wednesday.
Puri launched a portal for the scheme and released the guidelines and guidebook. The scheme under Pradhan Mantri Awas Yojana – Urban has been taken up to provide dignified and affordable living spaces to varied groups of urban migrants and poor including industrial & construction workers, migrants working with market associations, educational and health institutions, hospitality sector, long term tourists or visitors and students.
“To make this a lucrative and viable business opportunity for entities, central government will provide concessional project finance under affordable housing fund & priority sector lending, exemption in Income Tax and GST and Technology Innovation Grant for promotion of innovative technologies in ARHCs. Further, State/UT Govt. will provide Use Permission changes, 50% additional FAR/FSI free of cost, Single Window Approval within 30 days, Trunk Infrastructure facility and Municipal charges at par with residential property,” a statement by the ministry said.
The scheme was announced by the central government in May, received approval from the cabinet in July. This comes at a time when the extended lockdown to control the spread of covid-19 saw a large number of migrant workers head back to their villages. The scheme aims to target more than 350,000 beneficiaries.
“We already have 24 states on board. I will be writing a letter of appreciation to these states for coming on board so quickly for this scheme. The implementation of this scheme has been accelerated due to the covid-19 crisis,” Puri said, while addressing a digital press conference.
Further details are available at AFFORDABLE RENTAL HOUSING COMPLEXES (ARHCs) – Government of India
Ready to move Commercial and Residential Properties from BMRI
Located at 15 min walking distance from station. Situated near to market, hospital, school, temple. It provides the finest for an Ideal Home.
It is one of the most reputable address of the city with easy access to many famed schools, shopping areas, hospitals, recreational areas, public gardens and several other public amenities. The Project is at a very good proximity from school, market, banks & station. A location which allows to enjoy a chill breeze of beach on weekend by just driving for 15 minutes.
Located next to Virar, it has direct road access to the Mumbai Ahmedabad Highway (NH-8). Mumbai Chhatrapati Shivaji International Airport and Bus stand are also easily accessible from here. In addition, beautiful beaches (Kelva, Mahim and Satpati), ancient forts (Kelva and Shirgaon) and Manor Dam in the vicinity of Palghar make the place an attractive tourist getaway. Maharashtra’s largest fishing center, Satpati is also at a driving distance from Palghar West.
Real estate in Palghar is slated for growth, mainly, because of the proposed bullet train which will connect two main cities Mumbai and Ahmedabad. This town lie to the north of Mumbai and are on the periphery of the Mumbai Metropolitan Region. Coming back to the bullet train, the first train is likely to run by 2024. The current travel time between the two cities is 7 hours; the bullet train will cut it down to only 2 hours. 11 railway stations are being proposed along the route; on the Maharashtra side of the border besides the Terminal at Mumbai’s Bandra-Kurla Complex, Thane, Virar and Dahanu are likely to be the other stations.
Palghar is placed on the Western Line of the Mumbai Suburban Railway on the Mumbai Ahmedabad rail corridor. And is very easy for everyone to access the railway station. Last year, Palghar was given district status making it the Thirty Sixth district in Maharashtra.
About BM Group
BM Group (BM™) is a company established in early 90’s and is based in Mumbai, India. BM Group (BM™) serves for Property Development and Real Estate Consultancy of residential, commercial, warehouse, land, and retail leasing in different regions of Mumbai, Palghar, Thane, Ahmedabad, and Rajkot.
We at BM Realtors & Investors, LLP have always saved a soft corner for you while offering our spaces which now come with a benefit exclusively designed for you to feel the luxury of being attached to us. The time has approached to express our soft corner by turning it into reality and stepping ahead to come closer to you with a long lasting relationship with you and your generation next. Join the Boon Club