1 Crore Houses: The central government has approved the Pradhan Mantri Awas Yojana-Urban 2.0 scheme. Under this scheme, the central government will build one crore cheap houses for urban poor and middle class families. This scheme was approved on Friday in a cabinet meeting chaired by Prime Minister Narendra Modi. The government will give a subsidy of Rs 2.30 lakh crore on this scheme. Under this scheme, the government will provide financial assistance for building houses in urban areas.
1.18 crore houses were approved in the first phase
In the first phase of Pradhan Mantri Awas Yojana-Urban, approval was given to build 1.18 crore houses. Out of these, 85.5 lakh houses have been built. Apart from this, the government will now give Rs 3000 crore to the Credit Risk Guarantee Fund Trust. Earlier this figure was Rs 1000 crore. Under this, banks and housing finance companies are helped so that they can finance economically weaker people to build houses. This fund will now be managed by the National Credit Guarantee Company instead of the National Housing Bank.
EWS, LIG and MIG will get benefit
Those people who do not have a permanent house yet will come under the purview of this scheme. Those with annual income up to Rs 3 lakh will be counted in EWS category, those with income of Rs 3 to 6 lakh will be counted in LIG category and those with income of Rs 6 to 9 lakh will be counted in MIG category. Under the scheme, if you do not have land, you will also be provided a plot by the state government or union territory. Apart from this, housing vouchers will be provided to people buying houses in private projects. This time rental housing has also been added to the scheme. In this, if you do not want to buy or build a house, then there will also be an option to take it on rent.
A home brings dignity and an enhanced ability to fulfill one’s dreams.
With a record investment of Rs. 10 lakh crore, the Pradhan Mantri Awas Yojana-Urban 2.0 Scheme will benefit countless people and contribute to better cities. pic.twitter.com/ErTX4d1OZd
— Narendra Modi (@narendramodi) August 9, 2024
Subsidy of Rs 1.80 lakh will be available on home loan
Apart from this, under the scheme, people falling in EWS, LIG and MIG categories will be given interest subsidy on taking a home loan of up to Rs 25 lakh on a house worth up to Rs 35 lakh. Under this scheme, a subsidy of Rs 1.80 lakh will be given in installments for 5 years.
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