New Delhi: Even as India aims "Housing for All By 2022", a report of the Technical Group constituted by the Ministry of Housing and Urban Affairs shows that there are 18.78 million shortage of urban housing in India.
With a number of 3.07 million, Uttar Pradesh leads a list of states with maximum urban housing shortage in the country.
Maharastra comes second in the list with 1.94 million urban housing shortage while West Bengal had 1.33 million shortage in urban housing.
A report of the Technical Group (TG-12) on urban houding shortage (2012-17) disclosed that there are 18.78 million shortage of urban housing in India.
Interestingly, the Narendra Modi cabinet had launched housing for all by 2022 scheme just after his party came into power.
The Union cabinet had proposed a slew of policy reforms including slum rehabilitation of slum dewelleers with participation of private developers using land as a resource, promotion of affordable housing for weaker section through credit linked subsidy, affordable housing in partnership with public and private sector and subsidy for beneficiary-led individual house construction or enhancement.
As per technical group on urban housing report, urban housing shortage of 7.41 million (39.44 percent) is in lower income group (LIG) and 0.82 million (4.48 percent) is in the middle income group (MIG) and above category.
However, to improve the situation, under credit linked subsidy scheme (CLSS) of Pradhan Mantri Awas Yojana (PMAY-U), interest subsidy is provided on housing loan availed by LIG and MIG households in addition to economically weaker section (EWS) househololds from primary lending institutions (PLIs)- Banks, Housing Finance Companies (HFCs) etc.
Households under LIG (annual income between Rs 3 lakh to 6 lakh) and under MIG (between Rs 6 lakh to 18 lakh) and not owing a pucca house are eligible under this scheme.
An interest subsidy of 6.5 percent, 4 percent and 3 percent on housing loan up to Rs 6 lakh, Rs 9 lakh and Rs 12 lakh are available for the eligible beneficiaries belong to LIG, MIG categories respectively.
According to the government records, as on February this year, a total of 1,69,927 beneficiaries under LIG and 1,10,158 beneficiaries under MIG have received totall interest subsidy of Rs 3899.35 crore and Rs 2,322.99 crore.
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