Odisha Govt moves to convert vacant buildings into rental housing under PMAY-U 2.0
Bhubaneswar, Feb 6: In a bid to boost affordable urban housing, the Housing and Urban Development Department has written to multiple state departments to identify vacant and unutilized government buildings for conversion into rental housing assets under the PMAY-U 2.0 scheme.
Departments including Home, Finance, Agriculture, Panchayati Raj, Health, SC/ST Development, and Co-operation have been asked to submit details of unused government houses and structures in urban areas. The initiative aims to transform idle public assets into income-generating rental facilities for the urban poor, migrant labourers, industrial workers, and working women.
The scheme will be implemented through two models. Model-1 focuses on converting existing government-funded vacant buildings into affordable rental housing through Public Private Partnership (PPP) mode or via public agencies. Model-2 involves construction of new rental housing units by private developers or government bodies.
Affordable rent will be fixed by local authorities based on ground surveys. Provisions include an 8% rent increase every two years, capped at 20% over five years.
The projects will be funded by the Ministry of Housing and Urban Affairs under PMAY-U 2.0, with Odisha Urban Housing and Development Mission serving as the state nodal agency.
Powered by Froala Editor