State nod to 43 housing projects under PMAY 2.0 in urban areas
1
2
Bhubaneswar: To provide quality housing to people in urban areas, the housing and urban development department approved 43 detailed project reports in the beneficiary-led construction vertical under
Pradhan Mantri Awas Yojana
(PMAY) 2.0.
These projects will be executed in 42 urban local bodies.
Once completed, the 43 projects will provide 3,949 dwelling units to beneficiaries. These will be executed at a total cost of Rs 256 crores, with shares received from the Centre, state, and beneficiaries.
For the projects, the Centre will grant Rs 59 crore at Rs 1.5 lakh per dwelling unit, while the state will give Rs 39 crore at Rs 1 lakh per unit. The rest of the grant, amounting to Rs 157 crore, will be borne by the beneficiaries at Rs 4 lakh per unit.
Beneficiary-led construction under PMAY 2.0 refers to a scheme component where eligible families, particularly from economically weaker sections, receive financial assistance to construct new houses or enhance existing ones on their own land.
In a letter to urban local bodies, the urban development department's joint secretary, Satish Chandra Singh, informed them about the state-level approval and asked local bodies to take steps and sensitise beneficiaries at the ground level.
Among the urban local bodies, Bhubaneswar will see the execution of 44 dwelling units, while 26 dwelling units will be executed in Khurda, 115 in Puri, and 41 in Cuttack. The highest number of 663 dwelling units will be executed at Bhuban in Dhenkanal district.
Similarly, 579 dwelling units will be executed in Bhadrak municipality, 270 in Basudevpur, 220 units in Chandbali, 219 units in Sambalpur, 175 in Athagarh, 137 in Jajpur, 119 at Khariar in Nuapada, and 102 dwelling units at Polasara in Ganjam district.
Sources said the projects were approved by the state-level sanctioning and monitoring committee, and the proposal will be forwarded to the ministry of housing and urban affairs now for granting financial assistance for execution of the projects.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
26 minutes ago
- Hans India
Seema's rose farmer blooms big on the global market
Chilamattur (Sri Sathya Sai district): 'There's no better way to say 'I love you' than with a red rose,' reads a popular Valentine's Day poem. For Hazimullah, a pioneering rose farmer from Kodikonda village in Chilamattur mandal of Sri Sathya Sai district, this sentiment fuels a thriving global business. Recognised by the Andhra Pradesh horticulture department as the state's top rose farmer, Hazimullah exports high-quality roses from his 5-acre farm to markets worldwide. His signature 'Tajmahal' red roses are highly sought after in Dubai, Kuwait, New Zealand, Europe, and several Asian countries, especially during Valentine's Day. Operating from a state-of-the-art farm with polyhouses, cold storage, packhouses, and a farm pond, Hazimullah exports over 2,00,000 red roses annually for the romantic holiday alone. His roses, including red, pink, and yellow varieties, are also auctioned at the International Flower Auction Centre in Bengaluru, reaching global markets through other exporters. 'Rose farming demands hard work, persistence, and resilience,' Hazimullah told The Hans India. While many have left the industry, his disciplined, family-driven approach has led to success. He stands out as the only largest rose producer and exporter in the Rayalaseema region, according to horticulture assistant director Chandrasekhar. Unlike Araku Valley, once known for rose farms, or Kadiyam for nurseries, Hazimullah's farm is a unique export-oriented and training hub. His success is a family effort. Hazimullah credits his brother, Ziullah, an Agriculture graduate, for providing expert guidance. Launched in 2018 with 50 per cent subsidies from Central and state horticulture departments for polyhouses, the farm yields seven harvests annually, producing 8 lakh flowers per acre—totaling over 3 crore roses across 5 acres. Roses sell for Rs 5–6 in Bengaluru and fetch Rs 15–20 in international markets. The venture generates approximately Rs 15 crore annually, with half covering operational costs and the rest as profit for the joint family business, which employs around 40 workers, primarily from Uttar Pradesh. Sri Sathya Sai district collector T S Chethan has been a key supporter, providing administrative encouragement and highlighting Hazimullah's inspiring journey.
Time of India
an hour ago
- Time of India
RNT's shares in Tata & other cos to go to his foundations
Ratan Tata MUMBAI: The Bombay high court has clarified that Ratan Tata's holdings in listed and unlisted companies will go to his two foundations and not to his half-sisters and former confidant Mohini Dutta. The clarification comes after executors of Tata's estate sought guidance from the HC on who would inherit the late industrialist's equity portfolio. The June 16 order now paves the way for the probate of Tata's will, which is expected in a month. While there was no dispute among the executors, some of them are also beneficiaries, and other heirs of Tata's estate, originating summons were filed to address questions stemming from the effect of the fourth or final codicil on Tata's will, the HC said in its June 16 order. The question at hand was whether Tata's share portfoshares, valued at Rs 1,684 crore, have been explicitly mentioned in his will as being bequeathed to RTEF and RTET in a 70:30 ratio. The clarification is on his non-Tata Sons shares, worth over Rs 1,547 crore, which will now go to the two foundations in a 50:50 ratio. His non-Tata Sons shares include TCS, Tata Motors, Tata Investments, RNT Associates, Pritish Nandy Communications, as well as startups like Curefit, Avanti Finance and Electrodrive Powertrain Solutions (Electra EV). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Additionally, he held foreign shares in Howmet Aerospace and Alcoa Corp, both listed on the NYSE. Some of his investments have seen significant growth over the years. For example, his Rs 16.9 crore investment in Avanti Finance, a company he co-founded with economist Vijay Kelkar and Infosys chairman Nandan Nilekani in 2016, has grown to Rs 53.5 crore as of Sept 2024. lio will stand bequeathed according to clauses 4 to 8 of his will to half-sisters Shireen and Deanna Jejeebhoy, and Dutta, or whether it will be part of his residue asset and go to his two foundations, Ratan Tata Endowment Foundation (RTEF) and Ratan Tata Endowment Trust (RTET), as outlined in clause 13 of his will as substituted by the fourth codicil. The Jejeebhoy sisters are both among the executors and beneficiaries of Tata's estate. The order pointed out that a testator can introduce alterations to his will through codicils and past Supreme Court judgments have established that codicils will prevail over the will. Therefore, Tata's will has to be considered with alterations/additions made in the codicils. Justice Manish Pitale said Tata's holdings in listed and unlisted shares, not specifically covered in his will, form part of his residue asset and stand bequeathed to his two foundations in equal shares. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
an hour ago
- Economic Times
Polycab shares in focus after securing Rs 6,448-crore BharatNet contract from BSNL
The agreement, part of Package 4 of the amended BharatNet programme, includes the design, supply, construction, installation, upgradation, operation, and maintenance of middle-mile network infrastructure. Synopsis Polycab India has bagged a significant deal. It is a Rs 6,447.54 crore contract from Bharat Sanchar Nigam Limited. This is under the BharatNet project. Polycab will be the Project Implementation Agency. They will handle network development in Karnataka, Goa, and Puducherry. The project includes construction and maintenance. Analysts predict a potential upside for Polycab shares. Polycab shares will be in focus on Wednesday after the company announced it has secured a contract worth Rs 6,447.54 crore from Bharat Sanchar Nigam Limited (BSNL) under the BharatNet project. The contract appoints Polycab India as the Project Implementation Agency (PIA) for network development in Karnataka, Goa, and Puducherry. ADVERTISEMENT The agreement, part of Package 4 of the amended BharatNet programme, includes the design, supply, construction, installation, upgradation, operation, and maintenance of middle-mile network infrastructure. According to the company's stock exchange filing, the total contract value includes a capital expenditure (capex) of Rs 3,741.92 crore, operational expenditure (opex) of Rs 2,245.15 crore for the newly constructed network, and Rs 460.47 crore for the existing network—all inclusive of GST. The project involves a three-year construction phase followed by a 10-year maintenance period. Maintenance charges will be billed at 5.5% of the capex annually for the first five years and 6.5% per annum for the remaining five years. Also Read:Street favourites! Analysts see these 10 smallcap stocks rallying 20-80% ADVERTISEMENT As per Trendlyne data, the average target price of the stock is Rs 6,751, which shows an upside of 12% from the current market prices. The consensus recommendation from 28 analysts for the stock is a 'Buy'.Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside ADVERTISEMENT Polycab's Relative Strength Index (RSI) stands at 54.8, suggesting neutral momentum. An RSI below 30 indicates an oversold stock, while a reading above 70 signals overbought conditions. The MACD is at 94.6—above the centre line, but below the signal stock is currently trading below its 5-day, 10-day, 150-day, and 200-day simple moving averages (SMAs), but remains above the 20-day, 30-day, 50-day, and 100-day SMAs. ADVERTISEMENT Also Read: How can anyone consider Bitcoin to be a digital version of gold, questions Peter Schiff Polycab shares have gained 20% over the past three months but are down 15% over the last 12 months. The company's market capitalisation stands at Rs 90,894 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
