The funding will be via the affordable housing supply programme and represents a £70m increase on the current year.
Official figures on the affordable housing supply programme revealed that 58,427 of the 80,000 affordable homes delivered since 2007 have been new build, with the balance being 16,508 off-the-shelf purchases and 5,169 rehabilitations.
“At the heart of our ambition for a fairer Scotland is that everyone has access to a safe, warm and affordable place to call home,” said communities secretary Aileen Campbell.
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“This increased budget forms part of the single biggest investment in, and delivery of, affordable housing since devolution with over £3bn committed, which will deliver good quality, secure and affordable homes, which will in turn help create strong, sustainable communities.
“We have set an ambitious target to deliver at least 50,000 affordable homes over the course of this parliament, including 35,000 for social rent, and are making good progress towards that.
“By ensuring councils and housing associations have financial certainty, we are confident that this commitment can be fulfilled.”