Housing Solutions

Cabinet may take up Housing Loan Subsidy Plan.........Economic Times page 13 of 3rd July 2012

 

You will agree that the measure of good governance is when we are able to give a comfortable life to our citizens. The best way to make all feel proud as Indians is to improve their standard of living. The very basic being affordable shelter.

If we enact a law that enables all tax paying citizens who do not have a house of their own, to avail of low interest loan for housing. The interest should be around 6% only.

The applicant of the loan should have been a Tax payer for the preceding 20 years.

Based on the response, the period can be reduced to 15 yrs and later 10 years.

Also the house cannot change hands, be sold or mortgaged for 10 years after getting possession.

The loan should be limited to flats with a carpet area not exceeding 555 square feet.

This one act will not only create a positive impetus to growth, but be a harbinger to better economy, as all will strive to be Honest Tax paying citizens to avail of this facility.

The other outcome will be in creating job opportunities in many sectors.All documents should be well scrutinized to ensure the applicant satisfies all criteria. A website should be dedicated to the cause, with names of those who have been shortlisted and inviting objections if any from others who may be aware of the true facts.This one act will create a huge demand in housing, which will have a ripple effect on Steel, Cement, Sand,Stone, and other Building Materials consumption.The economy will boom, and what is reduced in loans, will be multiplied by increases in Tax collections.
For a Better India, keeping the economy growing positively with inclusive growth.