Indore IMC Plans to Provide 68,126 Low-Cost Housing Units for Urban Poor by 2022

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The Municipal Corporation of Indore has decided to provide 68,126 pucca houses for urban poor by 2022 under the Centre’s most ambitious “Housing for All” Scheme. The IMC commissioner Manish Singh said that the corporation is going to hold the project in four phases. In the first two phases, the civic body will rehabilitate 2,944 households from 50 slum colonies in the city by the end of 2018 and corporation will construct 20,182 low-cost housing units and shift 101 tenable and 84 untenable slums.

According to the reports, around more than 1, 82,000 households living in 646 slum settlements and more than 75,000 urban poor living in rented houses. About 41,638 households and 20,862 families will be benefitted under Pradhan Mantri Awas Yojana by providing houses and credit-link subsidy schemes.

And finally, in the fourth phase, the corporation plan is to construct 25,000 low-cost housing units for urban poor, remaining 50,379 families will be benefitted through EWS/LIG policy, IDA and MP housing board schemes.

The IMC’s building officer DR Lodhi said that the project work of first and second phase will begin from the next month of January and the projects are expected to be completed in 18 and 24 months respectively.

To avail the benefit of the scheme, a household with annual income should be less than Rs 3 lakh under beneficiary led housing scheme, while the centre and state government will provide a grant of Rs 2.5 lakh to construct their own house.

Similarly, under the credit-linked subsidy scheme, a beneficiary with annual income less than Rs 6 lakh can avail loan amount upto Rs 6 lakh at a nominal interest rate of 6.5%.

In this scheme, the cost of each house will be Rs 7.5 lakh and the beneficiary only has to contribute Rs 2 lakh.
Besides this, the Centre and State government will contribute Rs 1.5 lakh each and the remaining amount will be allotted through cross-subsidization by selling low-income group, middle-income group and commercial units

As per the scheme, the low-cost housing projects are located in Bhuri Tekri, Bada Bangarda, Niranjanpur, Musakhedi, Nipania, Rau, Nayta Mundla and Devguradia and remote areas of the city. In-situ slum redevelopment will take place in Lodha Colony and Sethi Nagar.

News Source: http://www.hindustantimes.com/indore/68k-low-cost-houses-for-urban-poor-in-indore-by-22/story-G21zqqtf5ksRPB8WjYffzI.html

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