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Union Housing Minster Considering INR 1.5 Lac Assistance To The Economically Weak For Buying House On Private Land

Apr 25, 2017 02:30 PM

If latest reports are to be believed, the government will provide a subsidy of INR 1.5 lacs to the poor who buy a house on private land. This will of great assistance to the economically weaker sections of the society who buy a house on private land. Currently, such assistance is only provided only in case of land provided by municipal bodies and state government. Union housing minister M Venkaiah Naidu revealed that his ministry is this option thoroughly. This comes just days after he launched a line of affordable housing projects by private developers.

Naidu also took the example of the government’s pro-poor initiative to provide roofs to all families in urban areas within 2022. He then explained how he has sanctioned a record number of affordable houses in the past 22 months. His ministry has “given approval to 17.73 lac affordable houses for the benefit of urban poor in 2,008 cities and towns.” He pointed out how this is a great sign of being a government with a difference. The Housing for All project, due to be completed by 2022, will be successful when 15 states and Union Territories accomplish it by 2019.

These include 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 mentioned the Real Estate Regulation Act, and how he has asked state governments to take immediate steps to notify the Act. His state has already notified all norms to get the law implemented by May 1.

13 states had notified the final rules till Thursday and 16 are already nearing the end. If certain states fail to notify within May 1, there can be public outrage as everybody is eager to see the Act get implemented. As soon as the regulator is appointed and the rules framed, all new and ongoing projects have to be registered. Every Union Territory and State, except Delhi has already signed the Memorandum of Understanding (MoU) with the housing ministry for the scheme.

According to The Economic Times, Tamil Nadu is leading the list of states for the maximum number of houses sanctioned by the Centre. Naidu is optimistic that the rate of sanction and completion of houses for the poor will increase.

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