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Indian Government Low Housing Scheme Policies

Indian Government Low Housing Scheme Policies
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The Indian government is known for providing the best loan services to the people of India and for this; it has established a fund of Rs.100 million which is called mortgage risk guarantee funds. This fund is specially maintained for urban poor housing schemes. Just after the launch of low-cost housing scheme which is benefiting 32 million non-governmental organizations in 250 cities the new development has been come in synchronization.  It has been done by combining and roping them in sate government and private sectors.

The launch of the first phase of Rajiv Awas Yojana (RAY) has now approved by the meeting of the cabinet committee of Economic Affairs which was chaired by the Indian Prime Minister Manmohan Singh. In this meeting the decision was made to provide many facilities to slum dwellers to obtain affordable housing projects. This decision was decided and confirmed by the Minister P Chidambaram.

It was also decided that the center government would bear fifty percent of the cost which will going to be applied at slum redevelopment which will be used by the state and city government in fulfilling viability gap funding. All these developments have been made just to increase the self confidence in private sector.

These slum dwellers will then be able to access the decent shelter and basic amenities of life by means of property rights. The minister also said that this will be going to prevent mushroom slums by adding the initiative. According to Chidambaram, these slums would be legalized if the property rights are conferred up a particular dweller.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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