Metros to lead big ticket developments

Nine new Metro Projects, covering 180-km and costing Rs.49,000 crore, have been sanctioned for Ahmedabad, Nagpur, Lucknow, Chennai (Extension), Pune and Noida-Greater Noida and Delhi Metro extension, said the renamed as the Ministry of Housing & Urban Affairs, the erstwhile two separate Ministries dealing with Urban development.

Over 37.5 lakh houses have been sanctioned so far under Pradhan Mantri Awas Yojana with a total investment of Rs.2.03 crores.

Seventy-seven cities under the Smart City Mission have already incorporated Special Purpose Vehicles (SPVs) out of the 90 selected in the three rounds.

It said 2,864 projects, worth Rs.135,958 crores are under various stages of implementation to improve urban infrastructure, ease of living and quality of life in urban areas.

National Transit Oriented Development Policy has been formulated to promote planned and sustainable urban centres, said the Ministry in project updates.

For rejuvenation and urban transformation, an Atal Mission for Rejuvenation and Urban Transformation(AMRUT) Mission has been launched for 500 cities. Five transformational reforms have been identified and a provision of Rs.10,000 cores proposed as an incentive for the next three years for implementing these reforms in these cities.

To improve sewerage and septage management, 271 projects worth Rs.12,321 crores have been awarded.
Pradhan Mantri Awas Yojana (PMAY)/Housing for All/(HFA)-Urban is a Mission to provide HFA by 2022. Being implemented from 2015, it provides central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for in-situ Rehabilitation of existing slum dwellers using land as a resource through private participation; Credit Linked Subsidy; Affordable Housing in Partnership and Subsidy for beneficiary-led individual house construction/enhancement.

A total investment from the Centre and States/UTs is approved for Rs 203,440 crores. Out of the approved total central assistance of Rs 57,669 crore, Rs 12,916 crores (approx.) have already been released to States/UTs. Interest subsidy of Rs 1,646 crore on housing loans has been credited directly to 81,597 beneficiaries under CLSS(Credit Linked Subsidy Scheme).

To fast track the construction of sanctioned houses, the Ministry has identified 16 new technologies for mass housing construction and further issued schedule of rates for eight new construction technologies and building materials for adoption among States/UTs.

In addition, the Ministry is also organizing Global Housing Construction Technology Challenge (GHCTC) to co-opt internationally acclaimed rapid mass housing construction technologies and to help States/UTs to construct sanctioned houses in the urban areas by 2022.

The newly launched CLSS for MIG (with effect from 01.01.2017) covers two income segments in the MIG viz. Rs.600,001 to Rs.1,200,000 (MIG-I) and Rs.1,200,001 to Rs.1,800,000 (MIG-II) per annum.

In the MIG-I, an interest subsidy of 4% has been provided for loan amounts up to Rs.9 lakh while in MIG-II, an interest subsidy of 3% has been provided for loan amount of Rs.12 lakh. Housing loans above Rs. 9 lakhs and Rs. 12 lakhs will be at non-subsidized rates.

CLSS for MIG will support acquisition/ construction of house (including re-purchase) of 120 square meters and 150 square meters’ carpet area as per income eligibility. Operational Guidelines for CLSS (MIG) have been released since 22.03.2017.

SMART CITY MISSION

Under SCM 2,864 projects worth Rs.135,958 crore are in various stages of implementation; 148 projects worth Rs.1,872 crore have been completed; and work is underway for 407 projects with a cost of Rs.15,600 crore.

Further, tendering has started for 237 projects with a cost of Rs.13,514 crore and Detailed Project Reports (DPRs) are being prepared for 2,025 projects worth Rs.102,260 crore. The progress with respect to implementation of projects pertaining to Smart Solutions, Smart Roads, Smart Water, Solar Rooftops, and Visible & Impactful is given below:

For Smart Solutions, 13 projects worth Rs.241 crore have been completed; 43 projects worth Rs.2,834 crore are under progress; further tenders have been issued for 25 projects worth Rs.2,756 crore.

For Smart Roads, 9 projects worth Rs.226 crore have been completed; 41 projects worth Rs.2,070 crore are under progress; further tenders have been issued for 36 projects worth Rs.3,662 crore.

For Smart Water, 8 projects worth Rs.710 crore have been completed; 17 projects worth Rs.486 crore are under progress; further tenders have been issued for 20 projects worth Rs.1,430 crore.

For Solar, 7 projects worth Rs.37 crore have been completed; 22 projects worth Rs.782 crore are under; further tenders have been issued for 12 projects worth Rs.117 crore.

For Visible and impactful projects, 16 projects worth Rs.187 crore have been completed; 35 projects worth Rs.1,569 crore are under progress; further tenders have been issued for 17 projects worth Rs.1,200 crore.

Value Capture Finance (VCF) Policy Framework was released by the Ministry on 28th February 2017. It is an important tool for generating much needed additional finances required by the States/Cities for funding the infrastructural investments.

So far 17 States have already engaged professional firms for preparing the VCF framework. This is expected to help the States generate additional revenue, said the Ministry. fii-news.com