Ambitious targets for meeting the housing needs of 1 crore urban families under PM AWAS Yojana Urban 2.0 point toward the enormity of the challenge that is urban housing in India. With projected urbanization to reach 50 percent in 2050, this ₹10-lakh-crore investment had been most timely and sorely required. The ₹2.2 lakh crore central assistance is a very strong model of public-private partnership, in which government support will act as a catalyst for private investment. This could result in innovative financing models and construction technologies in the affordable housing sector. Moreover, unlike most housing policies that leave out this ‘missing middle,’ the scheme targets both poor and middle-class families. If implemented correctly, this can potentially reduce a huge urban housing shortage of 18.78 million units in the year 2012 and change the urban landscape of India.
It is a game-changing announcement that the FM made by stating an investment of ₹10 lakh crore in urban housing under PM AWAS Yojana Urban 2.0 for India’s real estate sector.
