The union cabinet on Wednesday approved the 'Housing for All by 2022' programme for slum rehabilitation in urban areas.
According to Press Information Bureau Director General Frank Noronha, it will focus on promotion of affordable housing for weaker sections.
"Housing for All 2022 envisages affordable housing partnership with public and private sectors," Noronha tweeted.
He added that it "envisages interest subsidy of 6.5 percent on housing loans availed upto a tenure of 15 yrs for economically weaker section and low income group categories".
It will also provide for central grant of rupees one lakh per house, on an average under slum rehabilitation programme.
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