Development of affordable rental housing complexes for urban migrants

The Union Cabinet has approved development of affordable rental housing complexes (AHRCs) for urban migrants or poor as a sub-scheme under the Pradhan Mantri Awas Yojana-Urban. The scheme was announced by Finance Minister Nirmala Sitharaman as part of the Rs 20 lakh crore economic package to deal with the COVID-19 pandemic.

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Key-Points

A large part of the workforce in manufacturing industries, service providers in hospitality, health, domestic/commercial establishments, and construction or other sectors, labourers, students etc.

These workforce, who come from rural areas or small towns seeking better opportunities will be the target beneficiary under ARHCs.

Approximately,three Lakh beneficiaries will be covered initially under ARHCs.

ARHCs will create a new ecosystem in urban areas making housing available at affordable rent close to the place of work.

Investment under ARHCs is expected to create new job opportunities.

ARHCs will cut down unnecessary travel, congestion and pollution.

Government funded vacant housing stock will be converted into ARHCs for economically productive use.

The scheme would create a conducive environment for Entities to develop AHRCs on their own vacant land which would enable new investment opportunities and promote entrepreneurship in the rental housing sector.

This scheme seeks to fulfill the vision of ‘AtmaNirbhar Bharat.