This mission promises to address the housing shortage issue in urban areas
The government launched the
ambitious 'Housing for All by 2022' scheme recently. The scheme is
aimed at the economically weaker sections in urban areas. A decision to
this effect was taken by the Union Cabinet recently. The present
housing shortage nationwide is put at six crore units.
`Housing for All by 2022' is a central government sponsored scheme. The
States and Union territories have been provided with autonomy in this
mission's execution. The scheme has four components: Slum
rehabilitation Credit-linked interest subsidy Affordable housing
Beneficiary-led individual house con struction or enhancement The
States and Union territories can choose from the four components to meet
the demand for housing in their territory. The process of project
formulation and approval in line with the mission's guidelines has been
left to the States for quicker formulation, approval and implementation
of the projects.
SLUM REHABILITATION
Under the slum rehabilitation component, the Centre will provide a grant of Rs 1 lakh for each house. The State government will have the flexibility to use the slum rehabilitation grant for any slum rehabilitation project opted for, us ing land as a resource to provide houses to slum dwellers.
CREDIT-LINKED INTEREST SUBSIDY
The credit-linked interest subsidy scheme provides an interest subsidy of 6.50 percent on a housing loan availed for a tenure of 15 years. This is applicable to the economically weaker section (EWS) and low income group (LIG) segments. The subsidy payout on the net present value (NPV) basis is around Rs 2.30 lakhs per house.
AFFORDABLE HOUSING, HOUSE CONSTRUCTION
A Central assistance of Rs 1.50 lakhs per house will be granted to the EWS segment under the affordable housing component in partnership with the public and private sectors, and beneficiary-led construction or enhancement of individual houses. The States and Union Territories or their housing boards can set up projects of affordable housing based on the central government's grants.
The central government aims to build two crore homes in urban areas for the benefit of the EWS under the 'Housing for All by 2022' scheme.
INCOME CEILING REDEFINED
The income ceiling defining EWS has been revised from Rs 1 lakh to Rs 3 lakhs per annum. The ceiling for LIG has been hiked from Rs 1-2 lakhs earlier to Rs 3-6 lakhs, bringing more people under the beneficiary bracket.
IMPLEMENTATION IN PHASES
The scheme will cover 4,041 statutory towns with an initial focus on 500 ClassI cities. The mission will be implemented in three phases 100 cities from April 2015 to March 2017, 200 cities between April 2017 and March 2019, and the remaining cities from April 2019 to March 2022, with room for some flexibility.
While two crore houses are estimated to be built, the exact number will depend on a demand survey for which all Statescities will undertake a detailed assessment.
More Details visit timeofindia
SLUM REHABILITATION
Under the slum rehabilitation component, the Centre will provide a grant of Rs 1 lakh for each house. The State government will have the flexibility to use the slum rehabilitation grant for any slum rehabilitation project opted for, us ing land as a resource to provide houses to slum dwellers.
CREDIT-LINKED INTEREST SUBSIDY
The credit-linked interest subsidy scheme provides an interest subsidy of 6.50 percent on a housing loan availed for a tenure of 15 years. This is applicable to the economically weaker section (EWS) and low income group (LIG) segments. The subsidy payout on the net present value (NPV) basis is around Rs 2.30 lakhs per house.
AFFORDABLE HOUSING, HOUSE CONSTRUCTION
A Central assistance of Rs 1.50 lakhs per house will be granted to the EWS segment under the affordable housing component in partnership with the public and private sectors, and beneficiary-led construction or enhancement of individual houses. The States and Union Territories or their housing boards can set up projects of affordable housing based on the central government's grants.
The central government aims to build two crore homes in urban areas for the benefit of the EWS under the 'Housing for All by 2022' scheme.
INCOME CEILING REDEFINED
The income ceiling defining EWS has been revised from Rs 1 lakh to Rs 3 lakhs per annum. The ceiling for LIG has been hiked from Rs 1-2 lakhs earlier to Rs 3-6 lakhs, bringing more people under the beneficiary bracket.
IMPLEMENTATION IN PHASES
The scheme will cover 4,041 statutory towns with an initial focus on 500 ClassI cities. The mission will be implemented in three phases 100 cities from April 2015 to March 2017, 200 cities between April 2017 and March 2019, and the remaining cities from April 2019 to March 2022, with room for some flexibility.
While two crore houses are estimated to be built, the exact number will depend on a demand survey for which all Statescities will undertake a detailed assessment.
More Details visit timeofindia
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