#RealtyNewsRoundup: Govt To Build 2 Cr Affordable Houses By March 2019

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The government has announced that by March 2019, 1.2 crore and 1.02 crore affordable homes will be built under the urban and rural component of the PMAY scheme, respectively. According to Finance Secretary Ashok Lavasa, the units under the rural component will be built at a cost of Rs 1.27 crore while the units in the urban component would entail an expenditure of Rs 1.85 crore.

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The Central government has announced an outlay of nearly Rs 7 lakh crore for the construction of the largest 83,677-km road network over the next five years. The road construction projects will include the ambitious 34,800-km Bharatmala Pariyojana, with an investment of Rs 5.35 lakh crore. Additionally, Rs1.57 lakh crore will be spent on the construction of 48,877 km of roads by the state-run National Highway Authority of India (NHAI) and the Ministry of Road Transport and Highways.

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To push the Metro project in the city, the Pune Metropolitan Region Development Authority (PMRDA) will invest Rs 100 crore to acquire 70 acres of land. The land, 50 acres of which will be acquired in Mann and the remaining 20 acres in Balewadi, will be used to construct the carshed of the proposed Hinjewadi-Shivajinagar Metro stretch.

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The Public Works Department (PWD) of the Delhi government will now work on decongesting the Mathura Road. The decongestion plan is a part of the Rs 928-crore India Trade Promotion Organisation (ITPO) redevelopment project.

Source: Media reports