NEW DELHI: In a bid to boost affordable housing projects, the Centre announced a new Public Private Partnership (PPP) Policy that allows extending central assistance to private builders.
Minister of housing and urban affairs Hardeep Puri on Thursday expressed concern over the private sector so far not entering affordable housing segment despite huge scope for the same under Pradhan Mantri Awas Yojana(Urban).
The new policy allows extending Central assistance of up to `2.50 lakh per house to be built by private builders even on private lands besides opening up immense potential for private investments in affordable housing projects on government lands in urban areas, the minister said.
The policy seeks to assign risks among the government, developers and financial institutions, besides leveraging underutilized and un-utilized private and public lands towards meeting the ‘Housing for All’ target by 2022, he added.