The Affordable Rental Housing Complexes (ARHCs) scheme of the Union government will allow the concessionaire to have single and double room in the complex but double room can not be more than 33% of the project. The public or private partner for the project will be asked to have a revenue share agreement with the urban local bodies.
Ministry of Housing and Urban Affairs (MoHUA) released a ARHCs Knowledge Pack (AKP) on Friday which include Memorandum of Agreement (MoA) with States/UTs, operational guidelines, model Request for Proposal (RFP) for selection of concessionaire by States/UTs/ULBs under Model-1 and Expression of Interest (EOI) for shortlisting of entities under Model-2.
In the first week of July, Cabinet had given approval to the recently announced scheme to provide budget rental accommodation to poor and migrant workers in urban areas.
“Ministry has launched the Affordable Rental Housing Complexes (ARHCs) scheme under the Pradhan Mantri Awas Yojana – Urban (PMAY-U) as a part of Atma Nirbhar Bharat Abhiyan. This initiative has been taken up to provide dignified and affordable living spaces for urban migrants/ poor in need,” Housing minister Hardeep Singh Puri said.
Government may also allow 100% FDI in the scheme as the scheme is important for the younger generation.
The scheme is estimated to benefit 3.5 lakh people.
Concession agreement for ARHCs will include undertaking repair, retrofits, maintenance of rooms, and fixing water, sewer and sanitation problems.
The government has kept aside Rs. 600 crore in the form of technology innovation grant that would to be released for projects using innovative technologies for construction under the scheme.
Government said that the scheme provides an opportunity for all States/UTs to convert their existing vacant houses constructed under various Central/ State Government schemes into ARHCs.
The second model allows construction, operation and maintenance of ARHCs by public or private entities on their own available vacant land for a period of 25 years.
“A large portion of available vacant land is lying unutilized with various Industries, trade association, manufacturing companies, educational/ health Institutions, development authorities, housing boards, central/ state public sector undertakings (PSUs) and other such entities. By providing with appropriate policy support, enabling suitable provisions and incentives, these available vacant lands can be utilised effectively for developing affordable housing facilities to migrants/ poor,” the ministry said.
Central government will provide concessional project finance under Affordable Housing Fund (AHF) and Priority Sector Lending (PSL), Exemption in Income Tax and GST and Technology Innovation Grant for promotion of innovative technologies in ARHCs.
Further, State/UT will provide 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 mobile application of CREDAI - Awaas App and an e-Commerce Portal of NAREDCO - Housing For All was also launched by the Housing Minister.
These online platforms will leverage technology and provide benefits to home buyers in changing market practices by providing effective solutions. These will serve as gateway for home buyers from around the world to connect with developers and choose their dream homes from RERA registered.
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