New Delhi: The central government's plan to provide housing to everyone is going to invest heavily in the housing sector to complete the Prime Minister's Housing Scheme. The sector, which is in a slump with this investment, is about to turn back on its days. Amrit Aristotle, joint secretary of the Union Urban Ministry, claims that investors' interest in a scheme like PMAY is growing rapidly. This residential scheme has proved to be a boon for real estate.
The Joint Secretary was speaking at a special session on 'Emerging Construction Technology' on the second day of the 15th session of Aristotle Naredco. He believes that the importance of effective cost-effective, efficient energy and sustainable new technology in the construction sector is constantly increasing, making investment almost certain. Joint Secretary Aristotle said that the Centre expects an investment of five to seven lakh crore rupees under PMAY.
The concessional housing scheme will be a great help to the economy of the country. Projects are going to come up for these subsidized houses to be constructed in Rajkot, Indore, Lucknow, Puno, Chennai, and Ranchi. The aristocracy has appealed to construction companies and the builder community to participate freely. The date for this has been fixed for 30th August 2019. Praveen Jain, vice chairman, Naredco, said the use of modern technology is helping to build low-cost housing. The government aims to provide housing to all by 2022.
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