Telengana Plans Housing Scheme for Urban Middle Class

With the prestigious double bedroom housing scheme for weaker sections winning appreciation, the Telangana government is all set to launch a massive housing programme for the urban middle class. Any urban citizen with an annual income above Rs 3 lakh and below Rs 6 lakh, is eligible to own a house under the scheme.

After the successful launch of the 2-bedroom housing programme in IDH Colony in Hyderabad for the weaker sections, the State government is now focusing on improving the living conditions of the urban middle-class.

The State government is contemplating to tap the Credit Linked Subsidy Scheme (CLSS) of the Union Ministry of Housing and Urban Poverty Alleviation. “CLSS is a good scheme and no other state in the country has tapped it properly. We are trying to utilise it in a big way,” official sources said. Chief Minister K Chandrasekhar Rao himself announced that the State government would utilise CLSS during a press briefing recently.The officials of the Housing department are now working out the details. “We will send the proposals for the housing programme for the urban middle class to the Centre within a month,” official sources said.

Under the CLSS, the government would provide an interest subsidy for the first Rs 6 lakh of the loan for a 15 year tenure. The interest subsidy would be paid to the respective banks. So that the beneficiaries would get up to Rs 2.5 interest subsidy for 15 year loan tenure.

The credit-linked subsidy will be available only for loan amounts up to Rs 6 lakh and loans beyond Rs 6 lakh, if any, will be at non-subsidised rate. Interest subsidy will be credited upfront to the loan account of beneficiaries. This scheme will be extended to all the government and private employees whose income was less than Rs 6 lakh per year. The unit cost and the number of beneficiaries will be decided soon, sources said.

Proposals sent for 2-Bedroom Scheme:

Meanwhile, the State government on Thursday sent proposals for construction of 62,000 houses to the Central government under the Housing For All scheme. The Centre recently sanctioned 10,190 houses under Housing For All. The Central government would give Rs 1.5 lakh under the scheme and the remaining amount would be spent by the State government to provide 2-bedroom houses free of cost to the poor.

Source: The New Indian Express

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