Latest news with #PradhanMantriAwasYojana2.0
Hans India
6 days ago
- Business
- Hans India
Maharashtra: Skill Development Centre to be set up at Aurangabad Industrial City
New Delhi: A 20,000 sq. ft. Skill Development Centre is set to be established at Aurangabad Industrial City (AURIC) in partnership with the Confederation of Indian Industry (CII), for which an MoU is expected to be signed next week, according to an official statement issued on Sunday. Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia, confirmed the project during his visit to Chhatrapati Sambhaji Nagar to review the progress of industrial infrastructure and development of startups in the region. The Secretary emphasised the need to attract Global Capability Centre (GCC) investments and foster the development of Research and Development centres at AURIC to further enhance the region's innovation and industrial ecosystem. Stakeholders also recommended the convergence of Pradhan Mantri Awas Yojana 2.0 subsidies with state housing policies to offer a comprehensive package for inclusive residential development, thereby supporting the growth of a well-rounded industrial township. The visit also included an industry interaction session chaired by the Secretary at AURIC Hall, which witnessed participation from key stakeholders, including industry bodies such as MASSIA, CMIA, CII, FICCI, and ASSOCHAM. During the discussion, stakeholders suggested measures such as improved connectivity between Aurangabad-Hyderabad-Chennai, development of an MRO facility and Vande Bharat terminal, better logistics access at Bidkin, local train services between Jalna and Waluj, affordable housing via MHADA, and a dedicated chemical zone, the statement said. Recommendations also included increasing MSME land reservation from 10 per cent to 40 per cent, reserving 10 per cent land for startups, and strengthening soft infrastructure and skill development at AURIC. P. Anbalagan, Secretary, Industries Department, Government of Maharashtra, also presented the state's strategic vision for industrial growth through initiatives like MITL and MMLP. The Secretary's visit began with an interactive session at the Marathwada Accelerator for Growth and Incubation Council (MAGIC), where he engaged with budding entrepreneurs, incubators, and startup founders from the region. He appreciated their innovative spirit and highlighted the Government's strong support through initiatives like Startup India, Fund of Funds, and sector-specific incentives aimed at boosting the startup ecosystem, especially in Tier-2 and Tier-3 cities. The secretary also visited the Bidkin Industrial area, where he reviewed key infrastructure sites including JSW Green-Tech Ltd, Toyota Kirloskar facility, and the Water Treatment Plant. His visit further progressed to the Shendra Industrial Area, where he toured key industrial units including NLMK India, Hyosung T and D Pvt. Ltd., and Coatall Films Pvt. Ltd. He appreciated their role in driving high-value manufacturing and generating employment, contributing significantly to the vision of Viksit Bharat@2047. Besides, he took stock of the industrial infrastructure at AURIC, including the Water Treatment Plant, Integrated Command and Control Centre (ICCC), the state-of-the-art AURIC Hall, and the 3D city model of Shendra. Bhatia reiterated that collaboration between government and industry is essential to position Maharashtra as a global hub for manufacturing and innovation. The session witnessed active participation from Industry Associations and the Government of Maharashtra, reinforcing their shared commitment to catalysing industrial growth in the region, the statement added.
Time of India
30-06-2025
- Politics
- Time of India
Housing dept urges ULBs to hasten verification of PMAY 2.0 applications
Bhubaneswar: To ensure timely allocation of houses under Pradhan Mantri Awas Yojana 2.0 (PMAY 2.0), the housing and urban development department has asked all urban local bodies to expedite the verification process of applications received from beneficiaries. In a letter to the heads of all urban local bodies, Satish Chandra Singh, joint secretary of the Odisha Urban Housing Mission, expressed displeasure over the slow progress of the verification process and asked them to expedite the process while generating awareness among beneficiaries. As per data, so far 82,382 applications have been received, out of which 48,598 applications have been received under the beneficiary-led construction. However, only 13,925 applications were verified, and project proposals for 11,959 units were submitted to the state, Singh states. Terming the number significantly low compared to the total number of applications, Singh stated that a recent email received from the ministry of housing and urban affairs indicated that the total number of houses sanctioned under PMAY-U and PMAY-U 2.0 in Odisha constitutes only 12% of total households. "MoHUA has categorised the ULBs in Odisha to prioritise the application verification based on their performance," states Singh. Priority 1 is ULBs with house sanction rates below 12%, while the second one is ULBs with house sanction rates between 12% and 24%, and the third is the remaining ones. "ULBs in Priority 1 must intensify awareness programmes among beneficiaries, expedite application verification by deploying additional resources on a war footing, and submit new detailed project reports under PMAY-U 2.0 urgently," the additional secretary states in the letter. For ULBs coming under Priority 2, Singh asked them to prepare and submit proposals by following the due verification process. "It is advised that ULBs such as Khariar, Kotpad, and Champua exercise extra caution during the verification process," he said. These three ULBs share borders with neighbouring states like Andhra Pradesh and Chhattisgarh. "It is requested to take immediate and necessary steps to fast-track the verification and proposal submission process and issue appropriate instructions to concerned officials," Singh concludes. Notably, the application process for sanctioning houses under PMAY 2.0 is ongoing. The beneficiaries have been receiving houses under different verticals under the central scheme, such as affordable housing, beneficiary-led construction, and in-situ slum redevelopment programmes.
Economic Times
02-05-2025
- Business
- Economic Times
Mumbai has property selling for Rs 2 lakh a sq feet but Bangalore, Delhi NCR slowing down: Gulam Zia
Gulam Zia, Executive Director, Knight Frank India, says Despite Mumbai's high-end property sales, affordable housing faces inventory shortages as developers prioritize luxury projects. While price increases are plateauing in major markets, the affordable segment is poised for a comeback. Lower interest rates and the Pradhan Mantri Awas Yojana 2.0 are expected to revitalize the mid to lower end of the market, potentially slowing down the upper end. What are the trends that you are picking up in the real estate space at this point in time? I do not want to specifically talk about Mumbai. No doubt, it has clocked the best April in about 13 years, but what is your take when you talk about pan-India demand trends right now? Gulam Zia: It is a mixed bag. We are absolutely right when we are focusing on Mumbai, a lot of other details or numbers are hidden because Mumbai has been a great market, great movement, etc. But while Mumbai is showing a great performance, even Pune is doing very well. In fact, at the end of the March quarter, we realised that Pune was one of the better performing markets amongst the top seven or eight cities. But that said, for every Pune and Mumbai, other markets like NCR are not doing as well. On the other hand, even Bengaluru is showing signs of concern. So, while at the macro level, people are talking about the residential market showing signs of fatigue. A few of these markets are the reason behind it, whether it is NCR or Bengaluru, even Hyderabad market which was performing superlatively well in the last year or two, has started showing some slowing down in numbers. But when you look at Maharashtra, the western side, especially Mumbai and Pune, these numbers are covering up a lot of other things happening in India. So, there are some signs of concerns overall, but I would say if I have to talk about the last seven or eight quarters of rolling averages, nothing to worry about. It is only just about the last one or two quarters which have started showing some signs of slowing down in a few markets. I keep on hearing these crazy numbers about a house in Mumbai getting sold at Rs 1,50,000 a square feet, Rs 2,50,000 a square feet. What is the last number you heard? I first want to understand from you, then I will ask you my question. Gulam Zia: No, I do not think we have reached anywhere close to Rs 250,000; crossing Rs 200,000 is what is the new norm that has come about and… Rs 200,000 per square feet transactions going on in Munbai? Gulam Zia: Exactly and I am talking about primary transactions, with developers selling at Rs 2,00,000. When secondary sales happen, you can actually have lots of concerns whether some side transaction or something. But when a developer is selling and it is registered, we have to take it with some seriousness. Rs 200,000 is the new norm as far as the Mumbai residential market is concerned. How many actual buyers? I am not even talking about investors. What about the affordability of Mumbai real estate prices? There is construction going on everywhere. Gulam Zia: Well, you are absolutely right. Affordability is a concern. It has been rising gradually in the last two or three quarters and especially in markets like Mumbai and, even in Gurugram, where a few of these projects are again breaking the ceiling. A few of these transactions are raising concerns on affordability. However, when we are talking about affordability, it is also a very contrasting situation. Mumbai may be selling apartments at Rs 200,000 per square feet, but the same Mumbai also has amongst the top eight cities the maximum number of below Rs 50 lakh apartments being sold. Affordability-wise as well and with Mumbai infrastructure improving, a lot of new areas are emerging, and affordability is intact in those areas. In fact, the affordable housing market itself is suffering for whatever reasons but not much inventory is coming because every developer is focusing on the upper end where the low hanging fruit, the high velocity, high value transactions, and margins are much higher. So, the lower end of the market is suffering big time and that is where concern is emerging. But affordable real estate is also breaching the ceiling and in the next quarter or two, we will see some fatigue coming in. But as far as price rise is concerned, it is already hitting the ceiling. Post Covid, we saw markets like Hyderabad, Gurugram, see a huge boom in the way the construction activity was going on. What is your take? Have they peaked out right now? Gulam Zia: Yes, and the two specific markets you spoke about – Hyderabad and Delhi – have very different demand drivers. Hyderabad is driven by technology. All kinds of IT, GCCs, etc, are driving that market. Whereas Delhi NCR is a very different market from the boom that we have recently seen where some developers are talking about selling every apartment above at above Rs 100 crore plus. That is a slightly different market where a lot of South Delhi and Central Delhi residents are shifting to Gurugram for a better that is a slightly different market. But that said, these two markets have already started showing signs of fatigue. Price rise is over; in Bengaluru, Delhi, and Hyderabad markets are seemingly slowing down. Bengaluru did have a huge price rise about 9-10 odd percent but the velocity of sale is already suffering. So, wherever the price rise is breaching a certain affordability mark, we will see a slowing down in the transaction numbers coming about and which is what Bengaluru is already showing. Do you see demand plateauing first or do you see pricing plateauing first or do you see both happening or none happening? It is like an objective type question A, B, C, or D. Gulam Zia: Very difficult. Do I have a phone-a-friend facility? No, objective type. This time you are sitting inside the hall without any paper or access to Google. You have to tick a box. You do not have option E, none of the following. Gulam Zia: In order to reach a sensible level, the price rise has to hit the ceiling first and that is already happening. Transactions are still going on in one market or the other because not every developer takes the price up to that level. First, the upper end developers take a 0-15% premium on the rest of the market, it does not slow down the whole market. But when that segment of market starts showing some ceiling of price rise not increasing, then gradually other developers also realise, the sellers also realise and that is when the concern starts jacking up because the buyers then feel that if the prices have plateaued I would not buy it today, I will buy tomorrow. Today most of the buyers are rushing in to buy because they believe that the prices will go up tomorrow. When that plateau reaches, the buyer must also start thinking that he should buy tomorrow and wait for the price correction to come about. Right now, that is nowhere in sight. We want to believe that first the price rise will reach that plateau and then we shall see the rest of the market changing. We have spoken so much about demand, the pricing, but there is a consumer angle in all of this and given that the interest rate cuts are coming in, and the transition we are seeing has hit a lot of the home loan guys. So, what is your take? Is this a huge deciding factor when someone goes ahead and buys a home right now or is the pricing so exorbitant that everyone is just taking it too easy? Gulam Zia: Not really. The dynamics are pretty different in different markets, but on average, with the interest rate regime also changing, we see a silver lining there and especially for the mid to lower end of the market which was suffering for at least three years. Post Covid, all of us were talking about the upper end shooting up; that has happened but at the cost of the affordable housing market, mid to lower end of the market and that is now coming up with interest rates coming down, that was one market, that was one segment of the market which is hugely dependent on interest rates and with that changing, we want to believe that in the next year-and-a-half, we shall see a lot of softening of interest rate and the impact on home loans. That is expected to bring affordable housing back on track and let us not also forget that the Pradhan Mantri Awas Yojana 2.0, launched in October '24, is yet to show its true colours. We want to believe that these two things coming about discounts and concessions, etc, coming in because of Pradhan Mantri Awas Yojana 2.0 and softening interest rates, – with these two things coming together, we shall see the mid to lower end of the market coming back on track. At that time, the upper end of the market may start slowing down. We will have a lot to cheer about because then the mid to lower end of the market will start bouncing back. I want to believe for at least the next two to three years, those developers who are balancing their products and are balancing their categories very smartly, will not have much to worry about. Where are the Rs 2,00,000 per square feet deals happening? Which building? Gulam Zia: This is a new location that we always used to think about in south Mumbai. But this time, it is Worli Sea Face. Worli Sea Face is the new market to look at with the coastal road impact coming about, the whole of Worli Sea Face is today talking about a lot of new developments without taking specific names here, there are one or two such projects which are breaching the Rs 200,000 per square feet market.
Time of India
02-05-2025
- Business
- Time of India
Mumbai has property selling for Rs 2 lakh a sq feet but Bangalore, Delhi NCR slowing down: Gulam Zia
Live Events You Might Also Like: Mumbai sets new property registrations record for January-April period (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , Executive Director,, says Despite Mumbai's high-end property sales, affordable housing faces inventory shortages as developers prioritize luxury projects. While price increases are plateauing in major markets, the affordable segment is poised for a comeback. Lower interest rates and the Pradhan Mantri Awas Yojana 2.0 are expected to revitalize the mid to lower end of the market, potentially slowing down the upper end.: It is a mixed bag. We are absolutely right when we are focusing on Mumbai, a lot of other details or numbers are hidden because Mumbai has been a great market, great movement, etc. But while Mumbai is showing a great performance, even Pune is doing very well. In fact, at the end of the March quarter, we realised that Pune was one of the better performing markets amongst the top seven or eight that said, for every Pune and Mumbai, other markets like NCR are not doing as well. On the other hand, even Bengaluru is showing signs of concern. So, while at the macro level, people are talking about the residential market showing signs of fatigue. A few of these markets are the reason behind it, whether it is NCR or Bengaluru, even Hyderabad market which was performing superlatively well in the last year or two, has started showing some slowing down in numbers. But when you look at Maharashtra, the western side, especially Mumbai and Pune, these numbers are covering up a lot of other things happening in there are some signs of concerns overall, but I would say if I have to talk about the last seven or eight quarters of rolling averages, nothing to worry about. It is only just about the last one or two quarters which have started showing some signs of slowing down in a few I do not think we have reached anywhere close to Rs 250,000; crossing Rs 200,000 is what is the new norm that has come about and…Exactly and I am talking about primary transactions, with developers selling at Rs 2,00,000. When secondary sales happen, you can actually have lots of concerns whether some side transaction or something. But when a developer is selling and it is registered, we have to take it with some seriousness. Rs 200,000 is the new norm as far as the Mumbai residential market is concerned.: Well, you are absolutely right. Affordability is a concern. It has been rising gradually in the last two or three quarters and especially in markets like Mumbai and, even in Gurugram, where a few of these projects are again breaking the ceiling. A few of these transactions are raising concerns on affordability. However, when we are talking about affordability, it is also a very contrasting may be selling apartments at Rs 200,000 per square feet, but the same Mumbai also has amongst the top eight cities the maximum number of below Rs 50 lakh apartments being sold. Affordability-wise as well and with Mumbai infrastructure improving, a lot of new areas are emerging, and affordability is intact in those areas. In fact, the affordable housing market itself is suffering for whatever reasons but not much inventory is coming because every developer is focusing on the upper end where the low hanging fruit, the high velocity, high value transactions, and margins are much the lower end of the market is suffering big time and that is where concern is emerging. But affordable real estate is also breaching the ceiling and in the next quarter or two, we will see some fatigue coming in. But as far as price rise is concerned, it is already hitting the ceiling.: Yes, and the two specific markets you spoke about – Hyderabad and Delhi – have very different demand drivers. Hyderabad is driven by technology. All kinds of IT, GCCs, etc, are driving that market. Whereas Delhi NCR is a very different market from the boom that we have recently seen where some developers are talking about selling every apartment above at above Rs 100 crore plus. That is a slightly different market where a lot of South Delhi and Central Delhi residents are shifting to Gurugram for a better that is a slightly different market. But that said, these two markets have already started showing signs of fatigue. Price rise is over; in Bengaluru, Delhi, and Hyderabad markets are seemingly slowing down. Bengaluru did have a huge price rise about 9-10 odd percent but the velocity of sale is already suffering. So, wherever the price rise is breaching a certain affordability mark, we will see a slowing down in the transaction numbers coming about and which is what Bengaluru is already showing.: Very difficult. Do I have a phone-a-friend facility?In order to reach a sensible level, the price rise has to hit the ceiling first and that is already happening. Transactions are still going on in one market or the other because not every developer takes the price up to that level. First, the upper end developers take a 0-15% premium on the rest of the market, it does not slow down the whole market. But when that segment of market starts showing some ceiling of price rise not increasing, then gradually other developers also realise, the sellers also realise and that is when the concern starts jacking up because the buyers then feel that if the prices have plateaued I would not buy it today, I will buy most of the buyers are rushing in to buy because they believe that the prices will go up tomorrow. When that plateau reaches, the buyer must also start thinking that he should buy tomorrow and wait for the price correction to come about. Right now, that is nowhere in sight. We want to believe that first the price rise will reach that plateau and then we shall see the rest of the market really. The dynamics are pretty different in different markets, but on average, with the interest rate regime also changing, we see a silver lining there and especially for the mid to lower end of the market which was suffering for at least three years. Post Covid, all of us were talking about the upper end shooting up; that has happened but at the cost of the affordable housing market, mid to lower end of the market and that is now coming up with interest rates coming down, that was one market, that was one segment of the market which is hugely dependent on interest rates and with that changing, we want to believe that in the next year-and-a-half, we shall see a lot of softening of interest rate and the impact on home is expected to bring affordable housing back on track and let us not also forget that the Pradhan Mantri Awas Yojana 2.0, launched in October '24, is yet to show its true colours. We want to believe that these two things coming about discounts and concessions, etc, coming in because of Pradhan Mantri Awas Yojana 2.0 and softening interest rates, – with these two things coming together, we shall see the mid to lower end of the market coming back on track. At that time, the upper end of the market may start slowing down. We will have a lot to cheer about because then the mid to lower end of the market will start bouncing back.I want to believe for at least the next two to three years, those developers who are balancing their products and are balancing their categories very smartly, will not have much to worry about.: This is a new location that we always used to think about in south Mumbai. But this time, it is Worli Sea Face. Worli Sea Face is the new market to look at with the coastal road impact coming about, the whole of Worli Sea Face is today talking about a lot of new developments without taking specific names here, there are one or two such projects which are breaching the Rs 200,000 per square feet market.
