Govt Working On To promote Construction Of Steel Homes With Payback Scheme

The steel homes are said to be cheaper than traditional houses and take less time in construction. More interestingly, the report says, the government would come up with a payback scheme to encourage construction of steel homes.

0
30

Govt Working On To promote Construction Of Steel Homes With Payback Scheme

In a bid to realise its “housing for all” target by 2022, Union government is working on a plan that could be gamechanger in providing affordable housing to every citizen of the country. The government is planning to promote construction of steel homes and for this, it has started talks with several states.

The steel homes are said to be cheaper than traditional houses and take less time in construction. More interestingly, the report says, the government would come up with a payback scheme to encourage construction of steel homes.

Read Also: Affordable Option For Working Professionals Housing Needs: Ambernath MMR

According to the report, states in the North East have shown interest in the steel homes plan. The government has started talks with Assam and Arunachal Pradesh, while Chhatisgarh and Uttarakhand have also shown interest in the project.

The government plans to promote houses built on steel as the major component with the use of a new technology. This will reduce construction time, and expectedly increase affordability.

Read Also: Buyers Love Budget-Friendly Homes In Well-Connected Locations

The government also plans to give some benefit to consumers. Under this, consumers will be encouraged to build homes built with steel as the major component. Later, if the consumer wishes to shift to a traditional house or to a new house, he/she can sell the steel back to the government at 50% or above of the original cost. For this, the government, in consultation with the state government, will also set up places when steel can be sold.

The steel home scheme would be initially launched as part of the Pradhan Mantri Awas Yojana (PMAY). With the steel homes scheme, the government aims to meet a number of targets, including housing for all by 2022 and 300 MT production of steel by 2030.

Read Also: NBCC Delhi To Soon Develop Affordable Housing Projects On Sick PSU’s Plots

Union Minister had said last year that strong and affordable homes made of steel can easily be built at a nominal Rs 2 lakh under PMAY. The allocation under PMAY is Rs 1.5 lakh, while the same for hilly states is Rs 1.6 lakh. Ministry of Rural Development assures tie-ups with banks for Rs 70,000 and this way the allocation will be over Rs 2 lakh. Homes primarily using steel could easily be made for Rs 2 lakh under it.

Source Link- http://www.zeebiz.com/

LEAVE A REPLY

Please enter your comment!
Please enter your name here