PM Narendra Modi Announces New Housing Schemes For The Poor ndtv.com

In a special televised speech, Prime Minister Narendra Modi has announced new schemes to provide subsidised housing for the urban and rural poor. "To make the people of the middle class and the poor to buy or build their homes, the government has introduced two schemes under the Pradhan Mantri Awas Yojana," Mr Modi said in his New Year's Eve address.

As per these schemes, subsidised loans will be made available for building or expanding homes in rural India, he said.

The Prime Minister also said a concession of four per cent will be granted to those who take a loan of upto Rs. 9 lakh and three per cent on loans upto Rs. 12 lakh. Those who wish to modify their houses would get a three per cent concession on loan of upto Rs. 2 lakh