ARHC Scheme Empowers Urban Poor: Dr. Niranjan Hiranandani

Dr Niranjan Hiranandani, President NAREDCO, informed that the Union Cabinet has approved an Affordable Rental Housing Complexes (ARHC) scheme for urban poor and migrant labours which will provide them with a long-term and long-lasting solution. The advantage of this will be proper habitat and living facilities for migrant labours, much needed to restart the urban economy, be it manufacturing or service providers. This will make sure the optimum usage of the existing government-funded vacant housing stock and the investment under it has the potential to create job opportunities. The scheme creates an environment conducive for corporate to develop AHRCs on their own vacant land, which will create new investment opportunities and will promote entrepreneurship in the rental housing sector. The special incentives like use permission, 50% additional FAR/FSI, concessional loan at priority sector lending rate and tax reliefs at par with affordable housing make it an attractive proposition. This will make housing available at affordable rent at locations close to the workplace and will reduce unnecessary travel, congestion, and help control pollution.