Punjab Government would provide about 25,000 economically weaker sections or lower income group (EWS/lIG) flats in the state at a cost of Rs four lakhs and Rs six lakh respectively under Pradhan Mantri Awaas Yojna in a phased manner.
The announcement was made by the State Chief Secretary Sarvesh Kaushal, while presiding over the state-level Bankers’ Committee Meeting.
Kaushal, addressing the executives of different banks, representatives of various financial institutions and senior officers of the departments of Housing, Finance, local Government and PUDA, has asked all the banks and financial institutions to voluntarily participate and raise the loan facilities for the beneficiaries.
The Primary lending Institutions (PlI) have also been asked to collaborate in the implementation of the scheme, he said.
The maximum loan amount eligible for interest subvention at the rate of 6.5 percent on the loan availed from Primary lending Institutions for EWS and lIG category would be ` 6 lakh, he added.
During the meeting, it was informed that the land for the construction of these flats is already in the possession of the Department of Housing or PUDA. “The dwelling units have been planned to be constructed in a ground-plus-three storey structures. Probable sites where the DUs have been proposed to be constructed have been identified,” he said.
PUDA has been designated as the nodal agency for implementation of this scheme launched by the Prime Minister in June 2015.