The affordable rental housing complexes scheme under the Pradhan Mantri Awas Yojana—Urban has been launched to provide dignified and affordable living spaces for low income workers.

Incentives and benefits including free floor area ratio (FAR), concessional project finance, and trunk infrastructure facilities free of cost will be part of the affordable rental housing complexes (ARHCs) for urban migrants and poor, Union minister for housing and urban affairs Hardeep Singh Puri said on Wednesday, even as he launched a portal for the scheme and released the guidelines.

The scheme under Pradhan Mantri Awas Yojana—Urban has been launched to provide dignified and affordable living spaces to urban migrants and the poor, including industrial and construction workers, migrants working with market associations, educational and health institutions, hospitality sector, long-term tourists, visitors, and students.

“To make this a lucrative and viable business opportunity for entities, the central government will provide concessional project finance under affordable housing fund and priority sector lending, exemption in income tax and goods and services tax and technology innovation grant for promotion of innovative technologies in ARHCs. Further, governments of the states and Union territories will provide use permission changes, 50% additional FAR free of cost, single window approval within 30 days, trunk infrastructure facility and municipal charges at par with residential property,” a statement by the ministry said.

Source: LiveMint ( http://bit.ly/3cdMIMJ )