Govt likely to provide Rs 1.5 lakh to buy houses on private land
Government is likely to provide financial aid of Rs 1.5 lakh crore to the economically weaker section who buy a house on developed private land.
Till now such assistance was being provided only in case of properties developed on land provided by state governments or municipal bodies.
M Venkaiah Naidu informed on Thursday that his Ministry is considering the option. The development came after he launched a couple of affordable housing projects by private developers.
The government informed in the late hours on Wednesday, the remaining 32 sections of RERA Act 2016, which relate to registration of ongoing projects which have not received completion certificate till now, registration of property agents, penalties for non-compliance, etc.
The Minister also informed, “I am sure the political leadership in the states is aware of the consequences of not doing the needful to enable the large number of buyers get relief under the Act from the first of next month. I expect them to act accordingly to avoid any undesirable situation on ground.”