TN govt announces sops to promote affordable housing

In a move to encourage affordable housing projects in the state, Tamil Nadu government has announced subsidy for housing loans and extra space index for projects promoted to economically weaker sections.

I Periasami, housing minister, Tamil Nadu government on Tuesday told the State Assembly that an additional Floor Space Index (FSI) of 50 per cent will be given to those buildings that have dwelling units of not exceeding 30 sq m of floor area each. In the case of buildings with dwelling units of up to 50 sq m of floor area each, the additional FSI will be 30 per cent.

The minister also said 5 per cent interest subsidy for housing loans up to Rs 1 lakh. The interest subsidy scheme will be a central government sponsored programme to promote affordable housing. The Tamil Nadu Housing Board is the designated nodal agency for implementing the scheme, he added.

People belonging to the scheduled castes, scheduled tribes, backward classes, most backwards classes and those living in slums are going to be the beneficiaries.