Govt must give affront subsidy under PMAY, says Maimoon

Source: The Hitavada      Date: 22 Mar 2017 10:34:28

By Praveen Vighre,

“THE Pradhan Mantri Aawas Yojana (PMAY) is very good but its implementation is very slow,” said Khuzaima Maimoon, Director of Sky Developer, while talking to The Hitavada, on Tuesday. Maimoon, a B.E. in Mechanical by qualification, became developer after constructing his own property. He first started Millennium Developers and Fakhri Infra and then he rechristened it as Sky Developers and Promoters (India) Pvt Ltd.

Maimoon was one of the pioneers in giving flats under the PMAY, and also in launching affordable housing scheme. He said: “Under the PMAY, first the customer has to pay the full amount, even the bankers are not clear that a particular case fits under the PMAY criteria. There must be an appropriate agency to define a particular case which can be sanctioned under the PMAY and the amount of subsidy the person can get, so that developers can sell the flats/houses accordingly.”

He suggested that the Government should give affront subsidy of the sanctioned cases under PMAY. “Now, first the customer has to pay the whole amount and if his case gets sanctioned under the PMAY, then he gets the subsidy. Most of the needy customers are not able to avail the benefit as they are not having the full amount to pay for the dwelling units,” he noted. Maimoon added that as per the average salary in the city, i.e. Rs 15,000 per month, a dwelling unit between Rs 15 lakh and Rs 20 lakh would be affordable to people under the affordable housing scheme.

“The taxes are same in the affordable housing scheme. The Government should waive 50 per cent taxes so that construction cost gets reduced and more people can avail the benefit,” Maimoon said.

Expressing satisfaction over the ready-reckoner rates which were same as market rates, he said that the people would purchase their dream homes. “The real estate market is slowly looking up which had witnessed slowdown during the last 6 months. Now, the end users are buying flats. Customers from Gondia, Bhandara, Chandrapur districts too are showing willingness to buy homes in the city,” he said. Having constructed an area of more than 4.5 lakh with 8 completed schemes, the company’s future projects are Kasturi Square, Kasturi Heights, Kasturi Hills and Kasturi Apartment in Kalmeshwar.