Housing Schemes: The government implements numerous programs for the needy that can simplify their lives. Distributing rations, the PM Kisan Yojana supports farmers, and new initiatives have been introduced for the future of daughters. In the same way, the government is implementing various programs to offer housing to the underprivileged. Flats and houses are offered at low prices. In many cases, loans are provided at low interest rates for constructing homes. Today we will discuss 5 such programs.
Let’s take a look at 5 housing schemes
Under the PM Rural Housing scheme, 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 communities in India. Under the PMGAY program, the government’s aim was to construct 1 crore homes. Additionally, villagers receive a 3% discount on home loans of up to Rs 2 lakh.
The Credit Linked Subsidy Scheme is included in PMAY as well. It offers support concerning interest rate reductions for economically disadvantaged groups, including low and middle income individuals. Individuals from the target group can utilize this service at ICICI Bank. The bank offers an interest subsidy of up to Rs 2.67 lakh.
The Rajiv Housing Scheme was launched in 2009 to eradicate illegal buildings and slum areas. As a result, essential social services were intended to be offered to the low-income populations in India. In accordance with this, slums were to be eradicated and homes were to be constructed for the residents.
The Maharashtra Housing and Area Development Authority (MHADA) offers a lottery program, which is available. There is a part of this program that allows individuals from low-income backgrounds to apply. Groups with lower economic status, low-income families, and middle-income households are eligible to apply.
The Housing Scheme of the Delhi Development Authority was introduced in December 2018. The purpose of this initiative was to offer apartments to low-income, middle-income, and high-income categories. Nonetheless, individuals from every segment can submit applications for this program. Apartments are provided to individuals at various costs. This time, the DDA began selling houses from Rs 11 lakh.