In a bid to provide ease of living at affordable rent in urban areas, the Centre will launch a scheme of building Affordable Rental Housing Complexes in cities for migrant workers and poor.
"Affordable Rental Housing Complexes will provide social security and quality life to migrant labour, urban poor, students and others," Finance Minister Nirmala Sitharaman said in New Delhi on Thursday (May 14).
This will be done by converting government-funded houses in the cities into Affordable Rental Housing Complexes (ARHC) under public-private partnership mode through the concessionaire.
Incentives to manufacturing units, industries, institutions, associations to develop Affordable Rental Housing Complexes (ARHC) on their private land and operate, she said.
Incentivising State Govt agencies/Central Government Organisations on similar lines to develop Affordable Rental Housing Complexes (ARHC) and operate, she added.
Union Housing Minister Hardeep Puri praised the announcement and said this will bring relief to a large number of poor people.