CREDAI Members Launch 350 Affordable Housing projects To invest Rs. 38,000 crore to build 2 lakh dwellings in 53 cities, across 17 States - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Monday, April 10, 2017

CREDAI Members Launch 350 Affordable Housing projects To invest Rs. 38,000 crore to build 2 lakh dwellings in 53 cities, across 17 States

CREDAI Members Launch 350 Affordable Housing projects

To invest Rs. 38,000 crore to build 2 lakh dwellings in 53 cities, across 17 States

Private real-estate developers on April 9, 2017 launched 352 projects in 53 cities across 17 States with an investment of Rs. 38,000 crore to build 2,03,850 affordable houses.

“These housing projects are to be taken up by the members of CREDAI (Confederation of Real Estate Developers’ Associations of India) across the country in the first major private investments into affordable housing,” according to an official statement. 

The projects were launched by Minister of Housing and Urban Poverty Alleviation M Venkaiah Naidu at Ahmedabad.

Maharashtra has the highest investment in the affordable housing scheme with 1,03,720 houses to be built across Mumbai, Nagpur, Ahmednagar, Jalna, Banm, Nashik, Malegaon, Pune, Satara and Solapur with an investment of Rs. 15,575 crore.

Gujarat comes second with 28,465 houses to be built across Ahmedabad, Gandhinagar, Rajkot, Mehsana, Bharuch, Bhavnagar, Navsari, Modasa, Palanpur, Swarnakantha, Vadodara, Vapi, Surat at an investment of Rs. 9,525 crore. The National Capital Region comes third with 41,921 houses to be built with an investment of Rs.  6,211 crore.

As per the details furnished by CREDAI, the cost of construction will be Rs. 15-30 lakh, with the average cost of construction coming to Rs. 18 lakh per house.
Awas Yojana

The statement also noted that the Ministry of HUPA has so far approved the construction of 17,73,050 affordable houses under Prime Minister’s Awas Yojana (Urban) with an investment of Rs. 95,660 crore in 30 States and Union Territories.


These approved projects are to be executed with assistance from the Central and State governments and beneficiary contribution under the four components of the Awas Yojana (Urban). Under the urban housing mission, Central assistance of Rs. 1-2.35 lakh will be provided to each beneficiary. The Yojana was launched by Prime Minister Narendra Modi on June 25, 2015.
CREDAI Members Launch 350 Affordable Housing projects To invest Rs. 38,000 crore to build 2 lakh dwellings in 53 cities, across 17 States Reviewed by S. Chitra on April 10, 2017 Rating: 5 CREDAI Members Launch 350 Affordable Housing projects To invest Rs. 38,000 crore to build 2 lakh dwellings in 53 cities, across 17 Stat...

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