The central government will launch a scheme for affordable rental housing complexes (ARHC) for migrant workers and urban poor to provide ease of living at reasonable rent, says Finance Minister Nirmala Sitharaman while announcing second tranche of economic package on Thursday.
The scheme will be launched under the Pradhan Mantri Awas Yojana (PMAY) by converting government funded housing in the cities into Affordable Rental Housing Complexes under PPP (public-private partnership) mode through concessionaire. This move will help migrant workers and urban poor to live in cities by paying reasonable rents at these government complexes.
The government will incentivise manufacturing units, industries and institution associations to develop ARHC on their private land, Sitharaman said. In a similar line, central and state government agencies will also be incentivised to develop ARHC and operate, she added.
The ministry will issue detailed guidelines on the same, she said.
The government had launched Pradhan Mantri Awas Yojana Grameen and Pradhan Mantri Awas Yojana Urban in 2015 under the 'Housing for All' initiative. The government, which targets to build 5 crore houses by 2022, has proposed a PPP policy for the affordable housing segment.