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Over Rs. 60,000 crore fund were approved for the purpose of Urban Housing Plan by the Cabinet.

Courtesy/By: V.S Krishna | 22 Feb 2018

Recently, The Cabinet had given approval for the purpose of setting up of National Urban Housing Fund (NUHF) for Rs. 60,000 crore in order to meet the funds required for attaining the target of building 1.2 crore houses in urban areas under the PM Awas Yojna Scheme (PMAY) with the help of the partial government. The main reason for the approval is to raise funds rather than again approaching the cabinet and also take care of the funds required for the next 4 years. This was stated by the Minister of Housing and Urban Affairs Mr. Hardeep Singh Puri. Added to this, he said that as per the PMAY Scheme, the housing ministry had sanctioned 39.4 lakh houses and also more than 17.63 lakh houses had been grounded and around 5 lakh houses were completed. The Government also provides interest subsidy to beneficiaries as per the Credit-Linked Subsidy Scheme (CLSS) from economically weaker sections, low and middle-income groups when the loans are sanctioned by banks and other housing financial institutions. It was brought to light that up to 87,000 housing loans have been sanctioned and above 40,000 applications were under the consideration for approval.

Courtesy/By: V.S Krishna | 22 Feb 2018