To meet the demand supply gap of 14lakh dwelling units in Urban Andhra Pradesh, construction of affordable houses will be taken up by the state government under various schemes.
Beneficiaries of EWS and LIG categories seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5 % for a tenure of 15 years or during tenure of loan whichever is lower, for loan amounts up to Rs 6 lakhs. The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
Interest subsidy will be credited upfront to the loan account of beneficiaries through lending institutions resulting in reduced effective housing loan and Equated Monthly Instalment (EMI). Credit linked subsidy would be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing.
Affordable Housing Projects aim to increase availability of houses for EWS category at an affordable rate, either through EPC mode or in partnership with private sector including industries. Central Assistance at the rate of Rs.1.5 Lakh, and State assistance of Rs.1.5 Lakh per EWS house would be available for all EWS houses in such projects. An affordable housing project can be a mix of houses for different categories but it will be eligible for central assistance, if at least 35% of the houses in the project are for EWS category and a single project has at least 250 houses.
Please refer to AP State Housing Board
Government of Andhra Pradesh has established the A.P.Township and Infrastructure Development Corporation Limited(APTIDCO) to develop sustainable Townships and also creating Infrastructure in the State of Andhra Pradesh. Government has also designated APTIDCO as Nodal Agency for implementing the PMAY(Urban) in the State of A.P.