PM Launches Affordable Housing Projects

In News

The Prime Minister of India laid the foundation for affordable housing projects to be constructed across six cities.

In-Detail

  • Prime Minister Narendra Modi laid the foundation stone for Six Light House Projects in six cities.
  • These projects are part of the Global Housing Technology Challenge-India (GHTC-India) initiative.
  • The key feature of the project is to build 1000 houses each in six cities.
  • The six cities include
    • Indore-Madhya Pradesh
    • Rajkot-Gujarat
    • Chennai- Tamil Nadu
    • Agartala-Tripura
    • Ranchi-Jharkhand and
    • Lucknow-Uttar Pradesh.
  • The duration for the completion of the project will be 12 months.
  • The most modern construction practices will be adopted from countries such as France, Germany and Canada.
  • The aim is to use new technologies to provide resilient, affordable and comfortable housing for the poor and the middle class.
  • The Global Housing Technology Challenge provides the scope for incubating technologies for construction and innovation.
  • The project sites will be visited by planners, architects and students.
  • The newly adopted technologies will be molded in accordance with the local requirements.

Key Features

  • In the lighthouse projects, 1000 houses will be built each in Indore, Chennai, Agartala, Rajkot, Ranchi, and Lucknow.
  • The houses will be constructed using prefabricated sandwich panel system in Indore.
  • In Rajkot, the monolithic concrete construction system using tunnels from France will be adopted.
  • The US and Finland’s precast concrete technology will be used for the construction of houses in Chennai.
  • In Ranchi, a 3-D construction system from Germany will be used.

Benefits Under GHTC-India

  • The middle class will be benefited from the relaxation in the home loan interest rates.
  • The new Real Estate Regulation and Development Act (RERA) will provide protection to the middle class.
  • To promote the real estate sector, a series of measures are also considered.
  • To encourage buyers, taxes on affordable and regular houses had been reduced significantly.
  • The Central Rental Housing Complex Project was initiated with the objective of issues faced by the migrant workers.
  • This was initiated in coordination with the industrialists and investors.
  • Through GHTC-India 54 innovative housing construction technologies were identified.
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