Views on the impact of the 3 crore affordable house construction under PMAY will bring to the overall industry and economy by Mr Manish Jaiswal Managing Director and Chief Executive Officer Grihum Housing Finance (formerly Poonawalla Housing Finance Ltd.)

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New Delhi, June 12, 2024: It’s a remarkable initiative on the very first day of the PMO office in this tenure, reaffirming the government’s vision for promoting affordable housing. This can be viewed from three key perspectives:
 
Economic Growth
Increasing housing stock will stimulate economic activity and generate employment in construction and allied industries. With 3 crore affordable houses, the economic impact is immense. At an average construction cost of ₹1500 per sq ft, this could boost GDP by over half a trillion dollars.
 
Housing Demand
The infusion of funds is expected to significantly boost demand for affordable housing finance. Public-private partnerships will be crucial for effective implementation.
 
Technological Advancement
Advanced technology is essential for identifying suitable land parcels, enabling expansion into emerging areas. The government is already using Geographical Information Systems and cadastral mapping to demarcate these lands. Clearly identifiable and well-demarcated land, both physically and on GIS, will significantly boost housing finance in semi-urban and rural sectors.
Corporate Comm India (CCI Newswire)