Loan subsidy to make housing affordable for middle class buyers

DEHRADUN: Under the 'Housing For All' scheme of PM Awaas Yojna, taxpayers in the city who have ownership of land and are earning anywhere between Rs 3 lakh to 6 lakh can now avail a loan of Rs 6 lakh at just 6.5% interest rate and also get a huge subsidy of Rs 2.20 lakh.

Dehradun Municipal Corporation announced this provision on Wednesday, adding that it will set up an information centre regarding the scheme in its premises from this week onwards.

As per the scheme, there are four parameters under which locals can avail loan facility at 6.5% interest rate. These are in situ slum redevelopment, affordable housing through credit linked subsidy, affordable housing partnership and subsidy for beneficiary-led individual house construction.

The mandatory clause in the housing loan facility is to have the ownership of land and registry documents in hand.

Under slum redevelopment, Rs one lakh will be given to construct each house will be given by the Centre to the state government. In affordable housing for middle class buyers through credit category Rs. 2.20 lakh subsidy will be provided. In affordable housing partnership, houses will be constructed by the urban local body with private sector or public sector players and 35% of constructed houses will be kept aside for economically weaker section (EWS).

In the subsidy for beneficiary-led individual house construction, Rs 1.5 lakh would be provided to each beneficiary and the main focus would be on EWS.

News source: India Times