Prime Minister Narendra Modi recently announced a new scheme to fulfil the dream of owning a house by the urban homeless poor. He said that the new scheme would bring a lot of relief to the people from the interest on bank loans too. After unfurling the tricolour on the ramparts of the Red Fort in Delhi on Independence Day, the PM addressed the people and said that the objective of the housing scheme is to benefit the urban middle classes who did not own a house. “It is the dream of the middle classes to own a house in urban areas. To fulfil the dream, the government is introducing a new scheme. To fulfil the dreams of the people living in rented houses and in unauthorised colonies and to rescue them from bank rates of interest on loans, the government has decided to introduce a housing scheme,” the PM said. This is in addition to the existing Pradhan Mantri Awaas Yojna Urban Scheme, which was started on June 25, 2015. Under the scheme, till July 31, 118.9 lakh pucca houses have been sanctioned. Out of them, construction of 76.02 lakh houses has been completed in all respects.
