Samajwadi Awas Yojna: Uttar Pradesh’s Initiative for Affordable Housing

The Samajwadi Awas Yojna, introduced by the Uttar Pradesh government, is a comprehensive housing policy designed to bridge the gap in affordable housing for the Economically Weaker Section (EWS), Lower Income Group (LIG), and Medium Income Group (MIG) of society. Since its inception, several development authorities under the state government have rolled out various housing schemes to meet the diverse needs of these income categories.

Key Housing Schemes Under Samajwadi Awas Yojna
The following are some of the prominent housing schemes launched under the Samajwadi Awas Yojna:

Indraprastha Housing Scheme
Samajwadi Lohia Enclave Awas Yojna
Anand Vihar Housing Scheme
Lohia Greens Housing Scheme
Vasundhara Enclave Housing Scheme
Shatabdi Nagar Affordable Housing Scheme
Ramganganagar Housing Scheme
New Affordable Housing Scheme in Lucknow
These schemes offer a range of flats for the MIG, EWS, and LIG categories, addressing the housing shortage and making homeownership more attainable for the underprivileged.

Indraprastha Housing Scheme 2015
The Ghaziabad Development Authority launched the Indraprastha Housing Scheme at Indraprastha Pocket-D, Ghaziabad, offering 888 flats across various categories at affordable prices. The scheme was open for applications from March 10 to April 10, 2015. More details on the scheme can be found on the official website.

Samajwadi Lohia Enclave Awas Yojna
Lucknow Development Authority’s currently running scheme, Samajwadi Lohia Enclave Awas Yojna, offers 5,779 multi-storey flats for EWS, LIG, and MIG categories at Devpur Para, Lucknow. The registration period was from February 2 to March 31, 2015.

Anand Vihar Housing Scheme
Under the Anand Vihar Housing Scheme, the Hapur Pilkhuwa Development Authority offered 198 multi-storey flats for LIG and MIG categories. Located at Anand Vihar Yojna NH-24, the application period was from February 20 to March 20, 2015.

Lohia Greens Housing Scheme
The Bareilly Development Authority launched the Lohia Greens Housing Scheme with 447 flats. Alongside the Ramganganagar Housing Scheme, these initiatives aimed to provide affordable housing options, although registration for both schemes has since closed.

Vasundhara Enclave Scheme
The Gorakhpur Development Authority introduced the Vasundhara Enclave Scheme, offering 240 flats for the MIG category at Gautam Vihar Extension. The registration for this scheme is now closed.

Shatabdi Nagar Affordable Scheme
One of the largest schemes by the Kanpur Development Authority, the Shatabdi Nagar Affordable Scheme, invited applications for 7,360 units located at Shatabdi Nagar, Kanpur. The registration period started at the end of January and closed on March 3, 2015.

Future Prospects and Expansion
The Uttar Pradesh government is not only focused on the current housing schemes but is also planning the development of new townships. These future projects are expected to offer thousands of additional flats for MIG, LIG, and EWS categories, further expanding the reach of affordable housing in the state.

The Impact of Affordable Housing Schemes
Affordable housing schemes like the Samajwadi Awas Yojna play a crucial role in improving the quality of life for lower-income families. According to a report by the Ministry of Housing and Urban Affairs, as of January 2021, the Pradhan Mantri Awas Yojana (Urban) has sanctioned over 1.1 crore houses for urban India, with Uttar Pradesh being one of the significant beneficiaries. Read more about PMAY-U.

Conclusion
The Samajwadi Awas Yojna is a testament to the Uttar Pradesh government’s commitment to addressing the housing needs of its citizens. By providing affordable housing options, the state is not only empowering its residents but also stimulating economic growth and social stability. As the program continues to evolve, it is expected to leave a lasting impact on the urban landscape and the lives of countless individuals seeking a place to call home.

What Government Should Do to Attract Buyer’s Sentiments?

Consumers are searching and active but the housing sentiment indices constructed have been at rock bottom in this quarter for the FY 2014-15.

Consumers are hanging on for clear indications that the market is ready to be entered into. Even though there has been a lot of noise in the markets, none of them have come through to the surface. Here is a list of 5 points which would help to revive the sluggish property market.

1. Realty developers have not ceased to build in the past couple of years. However, if most of these properties are disputed in terms of delivery dates, specifications, prices, sizes, escalation and add on demands, there is no clear mean that the problem shall be resolved for consumers. Taking on the battalion sized legal departments of real estate conglomerates is quite daunting for consumers which is why consumer sentiments are on the lower side too. Quicker implementation of real estate regulator which has under purview city departments which grant approvals to newer developers, consumers and projects shall be steps forward.

2. Consumers today await a drop in interest rates for home loans to drop before they enter the market for a purchase. It was observed in the past that when rates are increased, older consumers have to pay more money keeping in line with floating interest rates. However, special rates and rate cuts are often reserved for new consumers of home loan. Any assurance to consumers that irrespective of when they take home loans, the slashes in rates shall be passed on fairly to them and not just new consumers shall instil confidence in borrowers.

3. Larger numbers of people have multiple houses and even if they lease out their spare properties, they do it with much hesitation as rental laws are biased heavily towards tenants. However, when it comes to defaults landlords have to approach long drawn legal systems. Simpler rental laws shall bring more confidence among landlords and help them unlock unoccupied urban houses.

4. Policies for real estate must be less self-centres. When coffers run low, city administrations increase registration values and property taxes. However, it has been seen that amounts collected increase when rates of taxes are lower and consumers pay taxes voluntarily. Government policies must favour realty consumers for bringing back confidence. The launching of affordable housing policies as well as affordable properties in Gurgaon, Haryana pushed up launches in the segment.

5. Governments must address social housing for ensuring that everyone has house that can be lived in. It would be the perfect test for the concept of smart cities in the country.

Why Today’s Market Trends Require Private Equity Fund Administration

The financial crisis of 2008 showed investors the unpredictable nature of the global market. As a result, today’s financial environment has become stricter and more demanding, requiring firms to focus on accurate reporting, delivering greater transparency and tighter accounting controls. In sum, an efficient private equity fund administration.

While other firms choose to stick with an in-house staff for this responsibility, recent reports show that more private equity managers now embrace outsourcing. “The shift to outsourcing is also being driven by more complicated investment strategies, higher flows into private equity, the need among asset owners for more accurate and timely valuation, and more domestic and international regulations,” shares asset servicing and trading expert Rick Baert of Pensions & Investments.

What actually makes these challenges tougher and tougher each year is the perpetually changing landscape of the global financial market. The unexpected swings and hurdles along the way require not only proficient administration of funds, but also proper execution of strategies that can mitigate risks and yield higher return on investment.

A recent example of this is the slump in oil prices that has spurred activity among private equity investors across the globe. According to Arno Schuetze and Freya Berry of Reuters, “Global crude prices almost halved to around US$60 a barrel in the past 12 months, slashing company values, forcing budget cuts and putting more than US$150-billion of oil and gas exploration projects in jeopardy this year.”

While some investors decide to take a wait-and-see stance on this investment opportunity, majority of them are more bullish. What if oil prices fail to rebound for years? Is that even possible? “In the long-term the equilibrium point of oil prices is in the US$70-85 range. The question is when is it going to get there, are we talking 9 months or 30 months? That is where the risk lies,” says Warburg Pincus’ co-CEO Joseph Landy.

With the risky and volatile nature of these assets, the critical role of private equity fund administration comes to rescue. Through global operating procedures, financial accounting and shareholder reporter, fund managers allow investors to monitor and weigh risks, and come up with smart decisions based on the provided information. Fund managers also save firm administrators from all the demanding aspects of tax services, fund regulation including AIFMD and FATCA compliance.

Going back to Baert’s analysis, the positive impact of fund administrators to private equity firms has become more evident than ever before. According to the author, latest research from eVestment points out that private equity fund assets under administration (AUA) among 28 firms surveyed demonstrated a 15.27% increase in the second half of 2013, to a total of $879 billion.

To help you reach your business objectives, look for a private equity fund administration firm that knows when and where to apply the industry’s best practices in tested, yet creative ways.