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EPFO to provide 1 million homes to boost to Modi's home-for-all vision

Labour Minister Bandaru Dattatreya urges state govts to provide land for this cause, wherever needed

ANI  |  New Delhi 

home buyer, real estate, RERA

The Empoyees Provident Fund Organisation (EPFO) will join hands with the urban development ministry to build 1 million homes in the next two years, said Union Labour Minister Bandaru Dattatreya on Saturday.

He said this decision had been taken to give a fillip to Prime Minister Narendra Modi's vision of home for all in 2022.

Talking to ANI here, Dattatreya said: "We have started Group Insurance Housing Scheme to give subscribers homes in phased manner. The will build 10 lakh homes in next two years with the help of Urban Development Ministry."

He urged the state governments to provide land for this purpose wherever it is needed.

He also said that discussion will be held with Ministry of Urban Development for providing Rs 2.2 lakh as interest subsidy to the beneficiaries of Economic Weaker Section (EWS) scheme.

"Similarly in EPFO, the middle income group and lower income group subscribers will get 3 percent interest subsidy on loan amount from Rs 6 lakh to 12 lakh, and 4 percent interest subsidy on loan amount up to Rs 18 lakh," said the Union Minister.

First Published: Sat, April 29 2017. 17:59 IST