New Delhi: The Central Cabinet on Wednesday approved developing of Affordable Rental Housing Complexes (AHRCs) for urban migrants under Pradhan MantriAwasYojana.
Nearly three lakh beneficiaries will be covered initially under ARHCs. This scheme seeks to fulfill the vision of ‘AtmaNirbhar Bharat.
ARHCs will create 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.
The Cabinet meet presided over by the Prime Minister Narendra Modi said the existing vacant government funded housing complexes will be converted in ARHCs through Concession Agreements for 25 years.
The concessionaire will make the complexes livable by repair/retrofit and maintenance of rooms and filling up infrastructure gaps like water, sewer/ septage, sanitation and road. The States/UTs will select concessionaire through transparent bidding.
The Cabinet meet said a large part of workforce in manufacturing industries, service providers in hospitality, health, domestic/commercial establishments, and construction or other sectors, labourers, students who hail from rural areas or small towns seeking better opportunities will be the target beneficiary under ARHCs.
An expenditure of Rs 600 crore is estimated in the form of Technology Innovation Grant which will be released for projects using identified innovative technologies for construction.