Minister of State (Independent Charge) for Ministry of Housing and Urban Affairs (MoHUA), Hardeep Singh Puri released the Affordable Rental Housing Complexes Pack through Video Conferencing on July 31, 2020.He also launched the mobile application of Credai – Awaas App and an E-Commerce Portal, “HousingforAll.com” of NAREDCO
Note -On July 08, 2020 Union Cabinet approved ARHC as a sub scheme under Pradhan Mantri Awas Yojana (Urban) as part of Atma Nirbhar Bharat Abhiyan. The scheme is estimated to benefit 3.5 Lakh people.
Objective
i.To provide dignified and affordable rental accommodation to the urban poor and migrant workers.
ii.The imposition of lockdown saw massive reverse migration of workers across the country, this scheme aims to provide an affordable living space for people in need.
iii.Government is also considering 100% FDI in the scheme.
Implementation:
The scheme is to be implemented through two models
Model 1:
i.Converting existing Government funded vacant houses into ARHCs through Public Private Partnership or by public agencies.
ii.Period of rent – upto 25 years.
iii.All lands which come under various Central/State Government Schemes are eligible.
A model Request for Proposal (rfp) has been sent by the Ministry to all states for customization.
Model 2:
i.Construction, Operation and Maintenance of ARHCs by Public/Private entities in their own vacant land.
ii.Period of rent – upto 25 years.
iii.Large vacant lands in Industries, Trade Associations, Manufacturing Companies, Educational/Health institutions, Development Authorities, Housing boards, Central/State Public sector undertakings to be used for developing into ARHCs.
The Ministry of Housing and Urban Affairs will issue Expression of Interest for shortlisting of entities by Urban Local Body.
Concession for Private/Public Entities:
The Government has also listed a number of concessions for private/public entities for taking up this project.
i.Concessional Project finance under Affordable Housing Fund & loans under Priority Sector Lending (PSL).
ii.Exemptions in Goods and Services Tax (GST) and Income Tax.
iii.Technology innovation Grant for promotion of innovative technologies in ARHCs. The government has set aside 600 Crores for this grant.
iv.States to provide 50% additional Floor area ratio (FAR)/Floor Space Index (FSI) free of cost
v.Single Window Approval within 30 days.
vi.Trunk infrastructure facility and municipal charges at par with residential property.National Real Estate Development Council
Minister launched Awaas app for CREDAI & NAREDCO’s Portal:
i.Hardeep Singh Puri launched the CREDAI’s Awaas app.
ii.Awaas is a residential project discovery online application that will help buyers to virtually explore and experience Real Estate Regulatory Authority (RERA) approved projects by Confederation of Real Estate Developers’ Associations of India (CREDAI) developers. The app will help in bridging the gap between the customer and developer.
iii.National Real Estate Development Council (NAREDCO’s) “HousingforAll.com” was also launched during the event.It is an online e-commerce portal to market residential properties.
