a) Slum rehabilitation of Slum Dwellers with participation of private developers using land as a resource; Central grant of Rs. one lakh per house, on an average, will be available under the slum rehabilitation programme. A State Government would have flexibility in deploying this slum rehabilitation grant to any slum rehabilitation project taken for development using land as a resource for providing houses to slum dwellers
b) Promotion of affordable housing for weaker section through credit linked subsidy; Under the Credit Linked Interest Subsidy component, interest subsidy of 6.5 percent on housing loans availed upto a tenure of 15 years will be provided to EWS/LIG categories, wherein the subsidy pay-out on NPV basis would be about Rs.2.3 lakh per house for both the categories.
c) Affordable housing in partnership with Public & Private sectors and &
d) Subsidy for beneficiary-led individual house construction or enhancement. Central assistance at the rate of Rs.1.5 lakh per house for EWS category will be provided under the Affordable Housing in Partnership and Beneficiary-led individual house construction or enhancement
*The scheme will be implemented as a Centrally Sponsored Scheme except the credit linked subsidy component, which will be implemented as a Central Sector Scheme
*Houses constructed under the mission would be allotted in the name of the female head of the households or in the joint name of the male head of the household and his wife
*three phases as follows, viz. Phase-I (April 2015 - March 2017) to cover 100 Cities to be selected from States/UTs as per their willingness; Phase - II (April 2017 - March 2019) to cover additional 200 Cities and Phase-III (April 2019 - March 2022) to cover all other remaining Cities.
*In the spirit of cooperative federalism, the Mission will provide flexibility to States for choosing best options amongst four verticals of the Mission to meet the demand of housing in their states.
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