Patna: The Bihar government has set a target to construct 5 lakh houses for economically weaker sections by 2030 under the Pradhan Mantri Awas Yojana (Urban) – 2.0. On average, 1 lakh houses will be built annually starting from the financial year 2024-25, with an estimated expenditure of Rs 1,000 crore per year. Beneficiaries will now receive a state subsidy of Rs 1 lakh, double the previous amount of Rs 50,000. Additionally, the central government will contribute Rs 1.5 lakh per beneficiary under the scheme.
According to the Urban Development and Housing Department, beneficiaries from economically weaker sections, lower income groups, and middle-income groups will also be eligible for interest subsidies on housing loans. The government will provide a maximum interest subsidy of Rs 1.8 lakh, which can be claimed by those who register on the portal. This amount will be directly disbursed by the central government to eligible beneficiaries.
The state cabinet’s decision is expected to accelerate the construction pace of affordable housing projects. Innovative construction technologies will be incentivized with additional grants of Rs 1,000 per square meter for 30 square meters of carpet area per unit. Under the Affordable Rental Housing Scheme, the central government will provide Rs 3,000 per square meter, while the state will contribute Rs 2,000 per square meter for projects between 10-60 square meters per unit.
This initiative aims to improve housing accessibility for vulnerable populations, addressing both affordability and quality. With enhanced subsidies and innovative technology incentives, the government hopes to meet the growing demand for housing and improve living standards across Bihar.
