Prime Minister Narendra Damodardas Modi on Monday inaugurated 76 multi-storeyed flats, in place of eight 80-year-old bungalows, for members of Parliament.

Modi spoke about the high productivity of Parliament, especially the Lok Sabha, since his government came to power in 2014 and referred to a number of landmark legislation enacted.

This period has been 'historic' in the nation's development, Modi declared.

The period between the 16th and 18th Lok Sabhas (2014 to 2029) is significant for a young country like India, he added.

'There is so much for the country that we have to achieve. Be it Aatmanirbhar Bharat campaign, or economic targets or many other pledges like this, we have to achieve them during this period,' he said.

The new flats for MPs, who often had to wait long to get a house in the national capital, is among the series of projects completed under his government after being kept pending for years and decades, Modi said.

He referred to the completion of the Ambedkar International Centre, the Central Information Commission building and the National War Memorial in this regard.

A statement from the prime minister's office earlier stated the construction of these flats has been completed with savings of about 14 per cent from the sanctioned cost and without time over-run despite the impact of COVID-19.