Government Unveils Rs 2.2 Lakh Crore Urban Housing Plan

The government has announced a central assistance of Rs 2.2 lakh crore for urban housing over the next five years, along with an interest subsidy scheme for affordable loans. Measures for a transparent rental housing market, transit-oriented development plans, and digital public infrastructure were also proposed.

The government on Tuesday proposed a central assistance of Rs 2.2 lakh crore for urban housing over the next five years and introduced an interest subsidy scheme to facilitate loans at affordable rates for urban housing works.

The announcements were made by Finance Minister Nirmala Sitharaman during the Union Budget 2024-25 presentation.

Sitharaman stated that the government would implement measures to create an efficient and transparent rental housing market with increased availability.

Additionally, she outlined plans for transit-oriented development in large cities with populations over 30 lakh, and a scheme aimed at developing 100 weekly haats over five years.

The government will also develop digital public infrastructure applications in seven areas, including credit and MSME service delivery.