Affordable Rental Housing Complexes (ARHCs) scheme

Affordable Rental Housing Complexes (ARHCs) scheme

In news:

• Cabinet approved an affordable rental housing scheme for migrants who went back to their home states during the lockdown.

About Affordable Rental Housing Complexes (ARHCs) scheme

• It is under the ministry of housing and urban affairs
• It will be a sub-scheme under the Pradhan Mantri Awas Yojana (Urban) 
• The scheme aims to cover nearly 3 lakh beneficiaries initially, with an estimated expenditure of around Rs 600 crore.
• Targeted beneficiaries would be workers who come from rural areas or towns to work in manufacturing, hospitality, health, construction, etc.

2 components:

1. The ARHC scheme will have a two-pronged approach; first, existing vacant government funded housing complexes will be converted into ARHCs through a concession agreement for 25 years.
2. Secondly, special incentives like use permission, 50% additional Floor Area Ratio or Floor Space Index, concessional loan at priority sector lending rates, tax reliefs at par with affordable housing among others will be offered to private and public entities to develop ARHCs on their own available vacant land for 25 years.

Pic: ARHCs