Lesson 31: Government, Semi – Government Housing Schemes In India
Urban Housing Schemes
With a view to solve the problem of housing for economically weaker section and lower income group families in urban areas, the Ministry of Housing and Urban Poverty Alleviation, Government of India has designed an Interest Subsidy Scheme under the Jawaharlal Nehru Urban Renewal Mission.
The Scheme aims at providing home loans with Central Government subsidy of five per cent through primary lending institutions.
Beneficiaries who own land in any urban areas, but do not have any pacca house in their name or in the name of their spouse or any dependent will also be covered under the scheme.
The Scheme will also provide a subsidized loan for 15 to 20 years for a maximum amount of Rs 1, 00,000 for an economically weaker section individual.
For lower income group individual, the maximum loan amount will be Rs 16,000.
The nodal agencies for the scheme will be the National Housing Bank and HUDCO, which will provide the benefit through banks or housing finance companies.
low-cost housing scheme for slum dwellers:
In a move aimed at checking proliferation of slums, the government launched an ambitious low-cost housing scheme to benefit 32 million slum dwellers in 250 cities by roping in state governments and private developers.
The aim of the scheme would be to encourage low-cost housing as well as develop the slums and to check proliferation of slums.
The Centre would bear 50 per cent of the cost of slum redevelopment which could be used by the states and cities towards viability gap funding in order to encourage private sector participation
Government housing scheme also for middle income groups:
Another scheme called Affordable Housing has been launched.
Under this new scheme another 10 lakh (1 million) houses are targeted, not only covering economically weaker section but also MIG (middle income group).
To provide housing to the urban poor, the ministry recently launched an interest subsidy scheme.
Under this scheme, the urban poor will be able to get housing loans from banks and institutions at an interest rate 5 percent lower than the market rate.
Participants