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Karnataka To Build 2 Lakh Homes Under 'Housing For All'

Karnataka To Build 2 Lakh Homes Under 'Housing For All'

Karnataka To Build 2 Lakh Homes Under 'Housing For All'

The Karnataka government plans to build a total of two lakh homes for the urban poor, in the next three to four years in the capital city, Bengaluru. It has already identified the land for this purpose, chief minister BS Yediyurappa said. These homes, to be part of 10-12-storeyed high-rises, will be constructed under the central government’s 'Housing for All' mission.

 

Housing for the middle-class

While initiatives such as this one have been picked up, the main worry for the middle-class, is the cost of land. Affordable housing, by definition, is homes costing up to Rs 45 lakhs. However, homebuyers point out that the authorities should subsidise land costs, if private builders have to pass on the benefit to homebuyers. The state has also been building under other schemes, to provide housing to Bengaluru’s urban poor.

 

CM’s One Lakh Homes Scheme 2019

Under the CM One Lakh Homes Scheme, 2019, affordable homes are being built for people below the poverty line (BPL). Lack of land availability, however, has forced the state to opt for buildings of ground-plus-14 floors, instead of the previous plan of ground-plus-three floors. Around 1,500 acres of government land, will be reclaimed from encroachers to build these homes.

Those belonging to the BPL category, with a family income of less than Rs 87,000 per year, can apply for a house under this scheme. The applicant must also be a resident of Bengaluru for the past five years or more and must not own another property. They must also not be a beneficiary under any other scheme. Around 10,000 title deeds have been distributed to beneficiaries in Bengaluru, till February 2019, under the scheme. Authorities say over 40,000 applications have been received, so far. 

Cost analysis: Apartments under the scheme were earlier expected to cost between Rs 5.50 and 6 lakhs. With the change in building plans, rates might be revised, too. To eligible candidates, the government will provide a subsidy of Rs 1.20 lakhs, to those belonging to the general category, while SC/ST applicants would be given a Rs 2-lakh subsidy. The remaining amount will be borne by the individuals themselves.

The project is being financed under the central, as well as the state government schemes, such as the Pradhan Mantri Awas Yojana, the Rajiv Gandhi Awas Yojna, the Ambedkar Housing Scheme and the Basavanna Housing Scheme.

 

Last Updated: Fri Aug 02 2019

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