Union Cabinet okays affordable housing project
In an effort to create a slum-free country by 2020, the Union government has approved the development of housing and basic facilities in slums across 250 cities in the country, under the Rajiv Awas Yojana.
The slum development projects would be undertaken in 250 cities that have a population of more than one lakh. The project will be undertaken across the country by the end of the 12th Five Year Plan (2012-2017). The scheme aims at helping re-development of slums, stopping proliferation and providing a dignified life, besides property rights to the dwellers.
The Union government will bear 50 per cent of the cost of the projects and Rs 1,000 crore will be provided as capital for mortgage guarantee facilities under the scheme. The Centre will provide financial assistance to States willing to assign property rights to slum-dwellers for provision of shelter and basic, civic and social services, besides creation of affordable housing stock.
Around 32.1 million people live in slums in Indian cities.