Housing for all by 2022: Sardar Patel Urban Housing Mission
Housing for all by 2022: Sardar Patel Urban Housing Mission is a proposed scheme of the NDA government which would endeavour to build 30 million houses by 2022 for the economically weaker sections and low income groups.
In the Union Budget 2014, the NDA Government has allocated Rs 4000 crore for affordable housing and proposed to set up a Mission on Low Cost Affordable Housing to be anchored in the National Housing Bank. Salient features are as follows:
- This mission aims to create 30 million houses by 2022 for economically weaker sections.
- The mission was launched on PM Modi’s direction of Har Parivar ko Ghar (a house for every family).
- The mission crafted through public-private-partnership model with interest subsidy and increased flow of resources towards housing sector.
- It aims at social inclusion also to create slum free cities across the country by focusing on in-situ development of slums through vertical construction.
- Investment of about Rs. 50 lakh crore is expected for various initiatives while building houses for all.
- Banks will have provision of tax incentives on interest rate for the loans taken by the poor section.