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In a move to ensure every household has a roof over their heads by
2022, the housing ministry is likely to increase interest subsidy for flats
under economically weaker section (EWS) and low income group.
Sources said the proposal has been formulated based on the
recommendation of an informal group of ministers, which looked into the
`Housing for All' scheme. The fresh proposal would be placed before the Cabinet
for its approval. TOI has learnt that one of the ministers in the group has
suggested that there should be 0% interest for people falling under the
category of EWS. He has suggested that the cost of such flats should not be
more than Rs 5 lakh in any urban area so that people across all sections can own
a house.
One of the major components of the ambitious scheme is to construct
at least two crore affordable housing in urban areas. The cost of such flats is
estimated to be around Rs 6.5 and Rs 7.5 lakh. There are also provisions
including interest subvention scheme in the housing sector that will meet part
of the buyers' home loan burden.
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