The Pradhan Mantri Awas Yojana (PMAY) has completed the construction of over 89 lakh houses in urban areas, per the Economic Survey 2025. The report also stated that 1.38 lakh real estate projects are currently registered under the RERA Act.
Over 1.18 crore houses sanctioned under PMAY
As of November 25, 2024, a total of 1.18 crore houses have been approved, with 1.14 crore under construction and 89 lakh completed. PMAY (Urban) 2.0 was introduced in September 2024 to support more households, aiming to assist one crore additional families.
₹10 lakh crore allocated for housing in budget 2024
In the Budget 2024, the government announced its plan to support the construction of one crore more houses under the PMAY (Urban) scheme. A total investment of₹10 lakh crore has been allocated, with₹2.2 lakh crore set aside as central assistance over the next five years.
Modi 3.0 approves three crore more houses
One of the first decisions of Modi 3.0 was to approve the construction of three crore additional houses under the PMAY scheme. Out of these, two crore houses will be built in rural areas under PMAY (Grameen).
Smart Cities mission adds 35,000 affordable homes
The Economic Survey 2024–25 also highlighted that over 35,000 affordable housing units have been built across 23 cities under the Smart Cities Mission. Additionally, 199 projects worth ₹9,200 crore have been executed in more than 50 cities across India.
RERA ensures better regulation and transparency
The report emphasized the impact of the Real Estate (Regulation & Development) Act, 2016 (RERA), in bringing better transparency and regulation to the real estate sector. By January 2025, over 1.38 lakh real estate projects had been registered under RERA, and 1.38 lakh complaints had been resolved.
