Govt funds only for performing cities, states: Venkaiah Naidu
Incentives in form of interest subvention under a new affordable housing scheme called ‘Sardar Patel Vallabhbhai Urban Housing Mission'
Nov 14, 2014
Source : Business Standard


Ahmedabad: Indicating at a major policy decision that his government was planning, Union minister for urban development, housing and urban poverty alleviation on Thursday said that in coming days central government will fund only those states or cities which are ready for reform and have good performance record.

The minister who was here to inaugurate international conference — ‘Muncipalika’ — on sustainable habitat and integrated cities also announced that for people from economically weaker sections (EWS) and lower income groups (LIG), who face difficulty in purchasing a house of their own, his government was planning to provide them with incentives in form of interest subvention under a new affordable housing scheme called ‘Sardar Patel Vallabhbhai Urban Housing Mission’. This mission will be in line with Gujarat government’s affordable housing scheme which was launched by Prime Minister Narendra Modi when he was heading the state.

Another major initiative by his government, Naidu said, was to improve governance in urban areas. For this they will be replacing the existing Jawaharlal Nehru National Urban Renewal Mission (JNNURM) with a new urban mission for which guidelines are being finalised, he added. The JNNURM was introduced by Congress-led UPA government in 2005 to improve civic infrastructure and services. The first phase of the programme ended in 2012 but was extended by two years to March 31, 2014.

“In the coming days the government is planning to fund only those cities and states that are ready for reform and change,” Naidu said in his inaugural address. Fund will also be based on good performance of cities and states, he said. “A guideline is being prepared in this regard by the union government,” the minister added.

Talking about the housing for all target of the Prime Minister, Naidu said, “The Prime Minister had given us a mandate of providing housing for all by 2022. Private developers are doing their work (on housing), but our concentration will be on people of and LIG. For this the central government will be providing tax incentives in form of interest subvention.”

“We will be launching the Sardar Vallabhbhai Patel Housing Mission for which guidelines are being prepared,” he further said in Gandhinagar.

Under the housing mission the central government will pay some percentage of the interest the bank charged from people. “This amount will be paid upfront to reduce the burden of the beneficiary,” Naidu explained. The mission will be formally launched after approval by the (EFC) of the parliament and the cabinet.

According to the Union minister the urban governance in the country was not satisfactory and needs to be worked upon. “To improve the governance in 500 cities we will be replacing the existing JNNURM with a new urban mission soon. The rules and regulations are being framed,” he added.

The minister know for his sense of humor also coined a new term MISIDICI which is combination of abbreviation for four programmes launched by Modi — make in India, skill India, digital India and clean India.

While announcing his government’s initiative Naidu also emphasised the need for cities to generate their own revenue and create a transparent system increasing revenue.

Naidu for pilot project with Infosys on green energy

Naidu is so impressed with Infosys's ideas on green building and energy conservation that he is thinking of doing some pilot projects with the company. "Day before yesterday there was a presentation made by Infosys people about green building and energy savings. They say if we spend 10-15 per cent extra we will be able to save 30-35 per cent more power," Naidu said during a conference in Gandhinagar. "I am so impressed by their presentation that I am thinking of some pilot projects with Infosys, just to showcase the ideas to other sections of the society," the minister said.

Latest Realty News

Maharashtra govt to simplify deemed conveyance for housing societies
Nov 14, 2014
Mumbai: Maharashtra government will simplify the 'Deemed Conveyance' procedures for convenience of the co-operative housing societies in the state
Realty sector wants stimulus package
Nov 13, 2014
Tiruchirapalli:The Confederation of Real Estate Developers Association of India (CREDAI) has urged the government to come up with a stimulus package for rejuvenating the realty sector
Protest against smart city plan
Nov 13, 2014
Imphal: The Manipur government’s decision to acquire land at Haollenphai village — in Moreh town bordering Tamu of Myanmar — to set up International Township, a “smart city”, is facing stiff opposition from Thadou students
Land must be given to landless: NHRC
Nov 13, 2014
Bhubaneswar: National Human Rights Commission (NHRC) directed the state government to give physical possession of land to the landless who have been allotted plots under various government schemes
House tax in Ghaziabad to increase by 10 per cent from April 2015
Nov 13, 2014
GHAZIABAD: Property owners in the city will have to shell out more from next financial year as Ghaziabad Nagar Nigam (GNN) has decided to increase the house tax by 10 per cent
Telangana CM wants to add skyscrapers to Hyderabad city
Nov 13, 2014
Hyderabad: Telengana chief minister K Chandrasekhar Rao wants to add skyscrapers to the Hyderabad skyline
Affordable housing momentum gains in Pune
Nov 13, 2014
Pune: Affordable housing segment that saw a dip of 52 per cent in third quarter of 2014 across India, has seen a healthy growth in Pune
No need to tweak housing society by-laws to undertake redevelopment
Nov 13, 2014
MUMBAI: A housing society is not required to change its by-laws before undertaking redevelopment of its premises, the HC has ruled
Guidance value set to rise in Bengaluru, citizens rush to register
Nov 12, 2014
BENGALURU: Long queues were seen at sub-registrar offices in the city ahead of an increase in guidance value for properties by 15-30%
Haryana Urban Development Authority houses 60% cheaper than DDA’s: Experts
Nov 12, 2014
NEW DELHI: Even as more than 10 lakh applicants continue to wait for the lucky draw results for 25,000 housing units Delhi Development Authority (DDA) housing scheme, real estate experts feel there is no need for despair for those who miss the opportunity

Latest Realty News Of State

Realty Talk's