Cabinet Approves New Scheme for Promotion of Rural Housing in Country (Download PDF)

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Union Cabinet chaired by Prime Minister Narendra Modi has approved a new scheme for promotion of Rural Housing in country. Government provide interest subsidy under scheme. Interest subsidy would be available to every rural household who is not covered under Pradhan Mantri Aawas Yojana (Grameen), PMAY (G).

Scheme for promotion of Rural Housing in country

Scheme for Promotion of Rural Housing in Country

Scheme for promotion of Rural Housing in country

About scheme

  • People in rural areas will be able to construct new houses.
  • People will be able to add to their existing pucca houses to improve their dwelling units
  • The beneficiary who takes a loan under scheme would be provided interest subsidy for loan amount upto Rs. 2 Lakhs.
  • Under this scheme housing stock will also improve in the rural areas
  • This scheme will also create employment opportunities in rural housing sector.
  • National Housing Bank would implement the scheme.
  • Main aim of scheme is to provide interest subsidy.
  • Interest subsidy would be available to every rural household who is not covered under the Pradhan Mantri Aawas Yojana (Grameen), PMAY (G).
  • Government will provide net present value of interest subsidy of 3 % to NHB upfront which will, in turn, pass it to the Primary Lending Institutions (Scheduled Commercial Banks, NBFCs etc. ).

About National Housing Bank

National housing bank mission vision

National Housing Bank Mission Vision

National housing bank mission vision

  • Type: Public
  • Industry: Banking
  • CEO: Sriram Kalyanaraman
  • Founded: 9 July 1988
  • Headquarters: New Delhi, India
  • Products: Loans

Objectives

  • To promote a sound, healthy, viable and cost effective housing finance system
  • To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups.
  • To augment resources for sector and channelize them for housing.
  • To make housing credit more affordable.
  • To regulate activities of housing finance companies based on regulatory
  • To encourage augmentation of supply of buildable land
  • To encourage public agencies to emerge as facilitators

- Published/Last Modified on: March 17, 2017

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