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Cabinet gives approval to ‘Housing For All by 2022’

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imagesThe Union Cabinet on Wednesday gave its approval to the ‘Housing for All by 2022’ scheme for slum rehabilitation in urban areas.

According to PIB Director General Frank Noronha, it will focus on promotion of affordable housing for weaker sections. “Housing for All 2022 envisages affordable housing partnership with public and private sectors,” Noronha tweeted.

He added that it “envisages interest subsidy of 6.5 percent on housing loans availed upto a tenure of 15 years for economically weaker section and low income group categories”.

It’s worth recalling that in an exclusive interview in the April issue of Realty & More, Housing Secretary Dr Nandita Chatterjee had said that broad guidelines for the ‘Housing for All’ scheme would be announced “in another one or two months or maybe a more than that.”,

As per the details out on Wednesday, a Central grant of Rs. one lakh per house, on an average, will be available under the slum rehabilitation programme. A state Government would have flexibility in deploying this slum rehabilitation grant to any slum rehabilitation project taken for development using land as a resource for providing houses to slum dwellers.

Central assistance at the rate of Rs.1.5 lakh per house for EWS category will be provided under the Affordable Housing in Partnership and Beneficiary-led individual house construction or enhancement. State governments or entities like housing boards can take up project of affordable housing to avail the Central Government grant.

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