Lucknow Industrial Development Authority (LIDA) has approved an affordable housing project to support Central government scheme Pradhan Mantri Awas Yojana (PMAY).
This project is being developed by Infrabuild. However, the project is spread over 10 acres land on the busy Lucknow-Kanpur highway. Under this project, about 817 and 460 units for the Economically Weaker Section (EWS) and Low Income Group (LIG) segments respectively and the beneficiaries would get the subsidy under the central scheme for the homeless urban poor dwellers.
According to the information, the company’s chairman and managing director P N Mishra said that the project would entail an investment of about Rs 350 crore, including land, and would be completed in the next three years.
However, Uttar Pradesh is facing a shortfall of over 2 lakh housing units and here is an urgent need to spruce up the availability of low-cost and affordable housing in the state to meet the growing demand.
News Souce: http://timesofindia.indiatimes.com/city/lucknow/pmays-first-project-begins-in-lucknow/articleshow/57882456.cms