Business Line 03.01.2011
ISHUP scheme to be launched in Kozhikode
Our Bureau
Kozhikode, Jan.2
The Central scheme, ISHUP (Interest Subsidy for Housing the Urban Poor), will be launched in Kozhikode district within a couple of weeks.
The ‘affordable housing scheme for all' concept was introduced by the Union Ministry of Housing and Urban Poverty Alleviation in 2008. Under the scheme, housing loans at an interest of five per cent will be extended to the economically weaker sections (EWS) and the lower income group (LIG) through select banks.
The Kudumbasree Mission has been appointed as the nodal agency for the implementation of the scheme in the district, and to prepare the final list of beneficiaries. The interest subsidy will be available for loans up to Rs. 1 lakh for the EWS category, and up to Rs 1.60 lakh for the LIG category.
According to Kudumbasree Mission officials, persons with a monthly income of Rs 5,000 and below will come under the EWS category, and those with a monthly income of between Rs 5,001 and Rs 10,000, under the LIG category. Even Government employees are eligible for the scheme.
Although the highest limit of loan amount under the scheme is Rs 1.60 lakh, borrowers are allowed to obtain excess amount by paying the commercial interest rates. The scheme will be available in the district through eight select banks.
