House for every citizen: Prime Minister inaugurates smart city project today (25th June)!
Posted on: 25/Jun/2015 2:19:42 PM
Prime Minister Narendra Modi is inaugurating the ambitious �House for every citizen by 2022; Project today (Thursday, 25th June).
Prime Minister is also inaugurating the setting up of �smart cities�.
�Atal Plan�, the project to improve the infrastructure of 500 cities, is also being launched today.
Rules and regulations for this project have been formed after discussions with the central, state, and local governments.
Under the �Housing for all� project, 7 crore houses are to be built in the coming 7 years.
The government expenditure for this project will be Rs. 3 Lakh Crores.
As per this plan, all economically backward citizens and �low income group; citizens will be extended a housing loan at a subsidised interest rate of 6.5%.
The duration for repayment is 15 years. The central government is set to spend Rs. 2,30000 Lakhs per person.
