National Housing Bank Held Meeting With Top HFCs To Boost Rural Housing
Looking to achieve the target of housing for all by 2022, the National Housing Bank (NHB) held a meeting with top HFCs (Housing Finance Companies) to give a fillip to rural housing, according to a source.
Representatives of top 15 housing finance companies in the country are owned by the Reserve Bank. NHB asked the players to have a focussed approach in boosting demand for rural masses so that the government’s Housing for All scheme is achieved by 2022.
The government’s ambitious ‘Housing for All by 2022’ has been implemented under two broad categories – Pradhan Mantri Awas Yojana (Urban) and Pradhan Mantri Awas Yojana (Gramin).
The scheme was launched in June 2015 with a vision to enable pucca house for all by 2022. It also gives subsidy under Pradhan Mantri Awas Yojana (PMAY) through its Credit Linked Subsidy Scheme (CLSS) for the four sections urban, rural, economically weaker section/ low-income group (EWS/LIG) and middle-income group (MIG).
To begin with, Bihar and Uttar Pradesh are among the five states, where the HFCs have been asked to target 5,000 units in each state to increase home loan penetration in rural areas, according to the person cited above.
To boost the rural housing sector in India, the government has allocated Rs 23,000 crore under the Pradhan Mantri Awas Yojana (Gramin) to promote affordable housing not only in cities but also in rural areas.
The government intends to complete 10 million homes by 2019.
Besides, the Ministry of Rural Development has launched the Rural Housing Interest Subsidy Scheme (RHISS) under Housing for All by 2022 to provide easy access to institutional loans to needy households for construction or modification of their dwelling units who are not covered under PMAY (U) or PMAY (R).
NHB is the central nodal agency for the CLSS for the PMAY (U) and RHISS under the Housing for All by 2022.
Source Link- https://timesofindia.indiatimes.com/