Centre may provide Rs 1.5 lakh subsidy to poor who buy house on private land

Affordable Housing
Affordable Housing

NEW DELHI: The government is likely to provide Rs 1.5 lakh assistance to each family from economically weaker section, who buy a house developed on private land. Till now such assistance is provided only in case of properties developed on land provided by state government or municipal bodies.

Union housing minister M Venkaiah Naidu said on Thursday that his ministry is considering this option, barely days after he launched a bunch of affordable housing projects by private developers.

While highlighting the government’s pro-poor initiative to provide roofs to all families in urban areas by 2022, Naidu said the Modi government has proved itself to be a “government with a difference” as he read out how his ministry has sanctioned record number of affordable houses in the past 22 months surpassing the total record of UPA’s two terms in the Centre.

“We have given approval to 17.73 lakh affordable houses for the benefit of urban poor in 2,008 cities and towns. The earlier government during its 10 years could give approval to 13.82 lakh affordable houses. We have exceeded 10 years of Congress rule by 3.9 lakh affordable houses and this is a good sign of being a government with a difference,” he added.

The minister said that to meet the Housing for All by 2022, 15 states and Union Territories are being targeted to meet the target by 2019. These are Kerala, Himachal Pradesh, Jammu and Kashmir, Arunachal Pradesh, Manipur, Meghalaya, Nagaland, Sikkim, Tripura, Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu and Puducherry. The rest will be covered by 2022.

Naidu also urged the state governments to take immediate steps to notify the Real Estate Regulation Rules since his ministry has already notified all norms to enforce the law from May 1. Till Thursday, 13 states have notified the final rules and another 16 are in process of doing so. “States that fail to meet the deadline must be ready to face the public ire since they have high hopes from implementation of this law,” he added.

Once rules are framed and regulator is appointed, all ongoing and new projects have to be registered.

As of now, Tamil Nadu leads the list of states that have got the maximum number of houses sanctioned by the Centre. Naidu said now with the new government in place in Uttar Pradesh, the pace of sanctioning and completion of houses for poor will increase.

“Every state and UT except Delhi has signed MoU with the housing ministry for this scheme,” Naidu said.

Reff- http://realty.economictimes.indiatimes.com/news/regulatory/centre-may-provide-rs-1-5-lakh-subsidy-to-poor-who-buy-house-on-private-land/58290616

Walls N Roof Comment : Housing for all by 2022 is an initiative by the government to provide housing to all pertaining to the economically weaker sections of the society. The government has provided subsidies on interest rates and sanctioned over 17 lakh affordable houses. The subsidy on house purchased on private land will be an additional one for the economically weaker sections of the society

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