₹3 lakh to ₹4.8 lakh per annum, and for LIG from ₹6 lakh to ₹9.2 lakh per annum, aligning with Consumer Price Index (CPI) adjustments. These revisions are crucial to ensure the relevance and accessibility of housing schemes. Expand affordable home dimensions: Current size limits for EWS and LIG homes are inadequate for dignified living.
The carpet area for EWS homes should be increased from 30-sq-m (323-sq-ft) to 60-sq-m (646-sq-ft), and for LIG homes from 60-sq-m (646-sq-ft) to 90-sq-m (969-sq-ft). This expansion will enhance living conditions and support healthier and more comfortable lifestyles, as advocated by the Swachh Bharat Mission. Additionally, increasing the size of EWS homes to 646-sq-ft for 10 million homes could potential boost GDP by an estimated ₹5 trillion or more.
Enhance BLC scheme implementation: The Beneficiary Led Construction (BLC) scheme grants funds directly to affordable housing buyers, primarily for self-constructed homes. However, the scheme faces two major challenges: limited public awareness and occasional misuse of funds. To address these issues, it is essential to raise awareness and channel the scheme through Housing Finance Companies (HFCs).
With their established controls and audit mechanisms, HFCs can ensure transparency, monitor subsidy transfers and offer technical support to beneficiaries. Reintroduce the AHF scheme: The government-administered Affordable Housing Fund (AHF) scheme, previously managed by the National Housing Bank (NHB), should be reinstated for new-to-mortgage homes, particularly for the EWS and LIG sectors. The scheme should be economically sustainable, though, with a minimum interest-rate spread of 5.5%, given the high operational costs associated with low-ticket
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