The government introduces numerous schemes for the poor that can simplify their lives. Distributing rations, the PM Kisan Yojana for farmers, and new initiatives have been introduced for the future of daughters. In the same way, the government is implementing various programs to offer homes to the underprivileged. Flats and houses are provided at affordable prices. In numerous cases, loans are provided at low rates to construct homes. Today we will discuss 5 similar schemes.
Through this program, the government aimed to offer homes to the impoverished. The government launched this as a ‘Housing for Everyone by 2022’ program. The government launched this initiative to offer affordable housing to the rural population in India. Under the PMGAY initiative, the objective of the government was to construct 1 crore homes. In addition, residents receive a 3% discount on home loans of up to Rs 2 lakh.
The Credit Linked Subsidy Scheme is also included in PMAY. It offers support concerning interest rate discounts to economically disadvantaged groups, low income, and middle income individuals. Anyone in the target group can take advantage of this service at ICICI Bank. The bank offers an interest subsidy of up to Rs 2.67 lakh.
This program was launched in 2009 to eradicate unlawful building and slum areas. As a result, essential social services were intended to be offered to the low-income populations in India. Under this plan, slums were to be eradicated and homes were to be constructed for the residents.
The Maharashtra Housing and Area Development Authority (MHADA) operates a lottery program that falls under government housing initiatives. In this, residents are provided with houses at reasonable prices. This plan also includes a part through which individuals from low-income groups can submit applications. Individuals from economically disadvantaged backgrounds, low-income brackets, and middle-income categories are eligible to apply for this.
The Housing Scheme by the Delhi Development Authority was initiated in December 2018. The goal of this initiative was to offer apartments to low-income, middle-income, and high-income groups. Nonetheless, individuals from every sector can apply for this program. Flats are offered to various individuals at varying prices. This time, the DDA began providing houses starting at Rs 11 lakh.
