HYDERABAD: The state government has received a major boost to its plans for constructing Indiramma Towers in the CURE area, with the Centre approving Rs 100.8 crore towards the construction of 6,720 flats under the Pradhan Mantri Awaas Yojana (Urban) 2.0 (PMAY-U 2.0).
The Central Sanctioning and Monitoring Committee under the Ministry of Urban Development recently approved 6,720 flats under 14 Affordable Housing in Partnership (AHP) projects proposed by the state government.
The total estimated cost of the 6,720 flats is Rs 739.2 crore. Of this, the Centre will provide Rs 100.8 crore as its share, while the state government will contribute Rs 67.2 crore and urban local bodies Rs 147.84 crore. The remaining Rs 403.2 crore will be contributed by beneficiaries. The Centre has also approved Rs 20.16 crore as a Technology Innovation Grant.
Chief Minister A Revanth Reddy recently laid the foundation stone for Indiramma Towers at KPHB Colony. Officials said the Centre’s approval would enable the state government to expedite construction of Indiramma Towers in the CURE area.
They said the Centre is likely to release Rs 40.32 crore towards construction and Rs 10.08 crore as the Technology Innovation Grant in the first instalment of its share.
The Centre has stipulated that all sanctioned houses should be grounded by November 2026 and completed within 18 to 24 months, with completion expected between September 2028 and September 2029. However, the state government has announced that it would complete the construction within a year.
Under the Indiramma Towers scheme, the state government has fixed the construction cost of each flat at Rs 11 lakh. Of this, the government will bear Rs 5 lakh, while the beneficiary will contribute the remaining Rs 6 lakh.
The Centre has directed the state government to ensure that the sale price of the houses is fixed and not altered under any circumstances.