MEPMA opened Kiosk at Masab Tank, Affordable Housing to get a Fillip
MEPMA opened Kiosk: Provision of two-bedroom housing, free of cost, could be one of the major welfare project of the government, with high expectations among the economically weaker sections. A significant section of the lower middle class and middle class are also in line to have affordable homes through the Centre’s Credit Linked Subsidy Scheme (CLSS).
Significant step was taken earlier this week when the Department of Municipal Administration and Urban Development (MA&UD)’s Mission for Elimination of Poor in the Municipal Areas (MEPMA) opened a kiosk inside its own office located at Masab Tank, to facilitate access of the LIG and MIG families to the interest subsidy being offered; the necessary information will be provided and applications also accepted. They have decided to propagate the scheme as it would help provide affordable housing to the employees in unorganised sector, the outsourced staff , home guards, sanitary workers, teachers and even the media personnel. It will soon open more kiosks in offices across other urban local bodies which would act as facilitation centres.
MEPMA called for a meeting of representatives of both public and private banks which entered into a memorandum of understanding with the Housing and Urban Development Corporation (HUDCO) and the National Housing Bank (NHB) for providing loans to eligible LIG/MIGs and even the economically weaker sections, up to Rs 4 lakh and more.
Although CLSS was launched some time ago, it did not gather momentum as it was left to the banks alone to take it forward and they have been applying the interest subsidy whenever applicants came on their own. Hence there were merely 900 beneficiaries so far throughout Telangana State. They are conducting a demand survey in about 37 urban local bodies across Telangana which will help them to identify eligible beneficiaries for this scheme.
Land ownership papers are sufficient as collateral for loan eligibility, with female ownership required for LIG (30-60 sq.mts) and an adult earning member irrespective of marital status for MIG (90 sq.mts). Housing loans are available for new constructions and also for addition of room, kitchen, toilet, etc., for LIG.
Source Link- http://www.thehindu.com/news/cities/Hyderabad/affordable-housing-to-get-a-fillip-with-mepma-backing/article19902364.ece