In her interim budget statement, Finance Minister Nirmala Sitharaman announced the start of a program to assist middle-class individuals who qualify and who reside in unapproved colonies, slums, or rented housing in purchasing or building a home.
It’s a good idea that inexpensive and controlled housing projects for urban purchasers have been approved. Unauthorised colonies with poor infrastructure are a booming industry because of the high demand they meet. It is also an unavoidable fact that state governments, regardless of the party in power, routinely regularise these illegal constructions.
Source: Mint
Election season means that announcements will inevitably be linked to political agendas. Affordable housing initiatives have the potential to fundamentally alter the real estate and related industries, even in that scenario. The regulated structure that these schemes offer also acts as a buffer against losing hard-earned money to scammers.
Additionally, the prime minister has pledged to lower loan interest rates. We would be eager to see the urban program’s details. Women have been allotted a larger proportion of dwellings under the Pradhan Mantri Awas Yojana-Gramin.
Source: CNN- News 18
The flagship Central plan, which involves the states, is to give homeless or kutcha and dilapidated rural residents basic amenities and pucca dwellings with a minimum area of 25 square metres. It continues to be a well-liked program that encourages capital spending. The administration asserts that it is almost done building the three crore residences it has set as its goal. It is necessary to continue the excellent effort.
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