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Govt allocates Rs 21,000 crore for affordable housing

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Govt allocates Rs 21,000 crore for affordable housingNEW DELHI: Sectors including cement, steel, paints, sanitary ware and electricals could benefit from the government’s decision to step up its affordablehousingdrive.

The government has set aside Rs 21,000 crore for building 5.1 million rural houses in FY19, apart from the 5.1 million being constructed this year under the Prime Minister Awas Yojana.

The government will create a dedicated Affordable Housing Fund in National Housing Bank. An interest subsidy will be provided to rural households that are not covered under PMAY.

Govt allocates Rs 21,000 crore for affordable housing.
The government will give an interest subsidy of 3% for a 20-year loan component of up to Rs 2 lakh. The government will provide Rs 1.20 lakh as assistance to every unit in the plains and Rs 75,000-1.30 lakh to those in hilly and difficult terrains.