Now annual income up to 1 lakh will be EWS and those between 1 lakh and 2 lakh LIG

In a far-reaching decision that would impact a large number of Economically Weaker Section and Lower Income Group households in Delhi and curb to a great deal the practice of making false income certificates, Union Minister of Housing and Poverty Alleviation Ajay Maken has effected an upward revision in the income criteria for these categories.

New Delhi The special extra-commercial borrowings (ECB) window for low-cost housing projects will be subject to a cap of $1 billion to start with. The detailed norms for ECB access to this segment, which is facing a funds crunch, are likely to be announced soon, say government sources.

In August, the government had allowed designated housing finance companies and the National Housing Bank (NHB) to access overseas loans for the specific purpose of financing low-cost housing. ECB would be permitted in housing projects where 60% of the total area is devoted to low-cost houses having a carpet area of 60 sq metres, sources said.

New Delhi Attributing the housing boom to easy availability of loans, new housing and urban poverty alleviation minister Ajay Maken on Wednesday said that the housing bubble could burst in the absence of proper planning.

As per the latest figure, he said, the number of vacant houses in the country were rapidly rising and already accounted for 11% of the total housing units in developed areas where middle and upper middle class people live. This is like a bubble which can burst any time.

Declaring that the first in-situ slum rehabilitation project undertaken at Kathputli Colony in his New Delhi parliamentary constituency was close to his heart, Union Housing and Poverty Alleviation Minister Ajay Maken said on Tuesday that more such projects would be planned to rid the city and other urban areas across the country of slums.

Speaking after assuming charge of the new Ministry, Mr. Maken who has been elevated to the Union Cabinet rank now, said he would also be working on expediting the process of redevelopment of slums. “At the time of the 1982 Asian Games when construction of various projects was undertaken, little thought was paid to the need of housing for the workers

The Centre will soon implement Phase II of the Rajiv Awas Yojna with a focus on providing long-term and bankable property rights to slum dwellers, Union Housing and Urban Poverty Alleviation Minister Ajay Maken said, soon after taking charge of his new Ministry on Tuesday.

Talking to journalists at his office in Nirman Bhavan, Mr. Maken said the Centre will adopt the twin strategy of funding and “mandatory reforms” in States, to implement its policies for the benefit of the poor in the country.

Apartments: In a country where a construction boom has created a large number of houses, many have no one to live in them and yet a larger number of people remains without a proper house.

Guwahati, Sept. 24: The northeastern states are facing a shortage of 0.68 million urban dwelling units, with Assam still topping the list despite recording a decrease since 2007.

New Delhi In a bid to spur real estate players to build homes for the low-income population, the proposal to allow them to access end-use linked external commercial borrowings (ECBs) for low-cost housing will soon be implemented. According to a senior government official, “the Reserve Bank of India (RBI) is going to notify the scheme in a few days”.

The scheme would impose stiff end-use norms to ensure that overseas funds are not used by developers for other purposes. ECBs are much cheaper than local debt due to near zero interest rates in many developed countries. But the actual interest rate would depend upon the lenders’ assessment of the borrowers, economic viability of projects, expected returns and the credit rating of the borrower.

Nearly 500 jhuggi dwellers from eight slum tenements on Wednesday became proud owners of their dwelling units, at least on paper, as they were presented with allotment letters to their houses at a function at Delhi Secretariat. The Government has in this scheme for the first time used biometrics to ensure that there was no duplication in allotment and no sale of the flats that are meant for rehabilitation.

While Chief Minister Sheila Dikshit handed over the allotment letters to 40 eligible beneficiaries, the rest were presented the allotment letters at the function itself.

The Housing and Urban Development Corporation Limited (HUDCO) wants to focus on housing for the economically weaker sections. On Tuesday, its Chairman and Managing Director V. P. Baligar said the organisation has upped its performance in the social housing sector, and is keen to do more.

“We are in discussions with the government of Rajasthan for a special scheme of housing for the urban poor. We will extend support to the Rajasthan government.