Wednesday, January 16, 2019 3:30 AM
Global Housing Technology Challenge
Under the “Pradhan Mantri Awas Yojana Urban (PMAY-U)”, the Govt. has initiated the “Global Housing Technology Challenge”.
Key features of the Global Housing Technology Challenge (GHTC) are
- The “Global Housing Technology Challenge (GHTC)” objective is to devise the fasttrack, affordable housing solution to meet the construction and development of 1.2 crores residential houses by the the year 2022.
- The GHTC has narrow down it focus on determining full proof demonstrable technologies and innovation for the lighthouse projects and finding future technologies for incubation and needed acceleration through Affordable Sustainable Housing Accelerators (ASHA) - India.
Basic Objectives or Purpose
- To undergo changes in operational way by adoption of newer constructions techniques for residential housing that are cost effective, affordable and less time consuming for rapid construction of housing i.e. within 3 months than conventional time requirement of three years.
- To bring in and witness change in technology transition through construction on larger scale under the Pradhan Mantri Awas Yojana Urban (PMAY-U) and find and get best available construction technology practices used across the globe.
About Pradhan Mantri Awas Yojana Urban (PMAY-U)
The “Ministry of Housing and urban Poverty Alleviation (MoHUPA)” undertakes the implementation of “Pradhan Mantri Awas Yojana (Urban)”.
The mission of PMAY-U is to address the residential housing requirement of urban poor of Indian society including eradication of slums by resettling them to better housing through programme modules.
- Rehabilitation of slum dwellers using available resources such as land.
- Affordable low cost housing in partnership.
- Credit Linked Subsidy (Implemented as a Central Sector Scheme).
- Subsidy for Beneficiary-led individual house construction/enhancement.
Why is it important?
It would be contradictory to say India has an estimated or approximate shortage of 20 million low cost residential housing i.e. ₹5-15 lakh (required by urban and rural), while housing developers and builders community is finding it hard to sell already constructed houses costing ₹50 lakh and upward.
The “Pradhan Mantri Awas Yojana (PMAY)” aims to address this housing deficiency or housing shortfall. Considering the raising of subsidised loan amount to certain extent (i.e. ₹12 lakh) per person, the PMAY programme is expected to meet maximum number of urban poor.