Free Press Journal

PM Housing Scheme: BMC to take loan of Rs 100 crore from HUDCO

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BHOPAL: The Bhopal Municipal Corporation (BMC) will take a loan of Rs 100 crore from HUDCO for construction of nearly 10,000 houses of various categories under PM Housing Scheme.

  A proposal regarding in this regard was passed in MiC meeting chaired by mayor Alok Sharma on Saturday.

The BMC’s Mayor-in-Council (MiC), on Saturday, nodded to proposal of Rs 685.25 crore for construction of 9,096 houses under PM Housing Scheme.


The houses will be constructed at 5 notified places – Kokta, 12 No. Bus Stop, Ganga Nagar, Shyam Nagar and Vajpayee Nagar.

As per the MiC, the ministry of housing and urban poverty alleviation had approved on August 31 the construction of 9,096 houses at these places in the state capital.

Under the said PM Housing Scheme, 5,856 Economically Weaker Section (EWS) type of houses, 2088 of LIG and 1152 of MIG category houses will be constructed. An EWS type house will cost Rs 8.10 lakh while LIG will cost Rs 12.75 lakh and MIG will cost Rs 17.04 lakh.

As per PM Housing Scheme, the credit linked subsidy will be available only for loan amounts up to Rs 6 lakhs and additional loans beyond Rs. 6 lakhs, if any, will be at non-subsidised rate.

Beneficiaries of EWS, LIG 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 per cent for a period of 15 years or during period of loan whichever is lower.

MiC member Surendra Vadika said, “The BMC MiC has passed proposal to take loan of Rs 100 crore from HUDCO for construction of houses under PM Housing Scheme. Secondly, proposal has also been passed for tendering of Rs 685 crore for the house construction.”