Arihant Foundation and Housing

Days after it came to light that only eight per cent of housing units have been completed nearly three years after the launch of the Pradhan Mantri Awas Yojana-Urban (PMAY-U), the government has come up with a correction. According to a government release posted on March 23, while 3.5 lakh houses have been completed under the scheme, the foundation stone has been laid for another 18.47 lakh units. The government plans to build 40.65 lakh homes under the scheme.

From its previous ranking of 143 on The Heritage Foundation’s Index of Economic Freedom in 2017, India is placed at the 130th spot this year, a jump of 13 positions. However, reforms undertaken by the government to improve the state of affairs have yet to make the desired impact. Unclear land titles are one of the major challenges India faces today, the report indicates.

Construction of a home involves a lot of effort and time and, therefore, it is important that all the necessary markers are kept in mind to avoid last-minute cash crunch and delays in receiving funds from the bank. Here are the six major aspects which you must take into account if you are applying for a home loan for construction purpose.

Maharashtra has launched new Development Plan for Mumbai metropolitan region that has cleared the deck for vertical development and has brought FSI bonanza for the developers. The FSI for commercial buildings has been raised to 5 to create space for new jobs and at least 5 lakh affordable homes.

The district magistrate recently issued an advisory to property buyers, saying they should not take possession of units unless the project is certified to be following the Uttar Pradesh Vector-Borne Disease rules. Under the UP Prevention and Control of Malaria, Dengue and Any Vector Borne Disease Regulation, 2016, buyers should not accept possession of units without ensuring the project has received a certificate for having in place an anti-mosquito mechanism. Also, those who are providing mosquitos a breeding ground by blocking drain water will be served notices.