Cabinet approves affordable rental housing projects for urban poor

<p class="p1">The cabinet today approved the development of affordable rental housing complexes (AHRC) for the urban poor or migrants.</p>
<p class="p1">The complexes will be built under the Pradhan Mantri Awas Yojana – Urban and according to the government, will benefit 3 lakh urban poor.</p>
<p class="p1">Under the initiative, existing vacant government-funded housing complexes will be converted to ARHCs. Further, special incentives like use permission, 50 per cent additional floor area ratio or floor space index, and tax relief will be offered.</p>
<p class="p1">The Centre estimates Rs 600 crore of expenditure in the form of 'technology innovation grant'.</p>
<p class="p1">The initiative was announced as part of the Aatma Nirbhar Bharat economic package by the Finance Minister in May in view of the exodus of migrant laborers and the poor back to their villages from urban centers post the announcement of the nationwide lockdown.</p>.