Central Government PM Modi 1BHK Rental Housing Scheme – Houses on Rent under PMAY...

PM Modi 1BHK Rental Housing Scheme – Houses on Rent under PMAY [Planned]

Central govt. may soon launch PM Modi 1BHK Rental Housing Scheme for people belonging to economically weaker sections. Now the Modi govt. would start Houses on Rent Scheme along with the flagship Pradhan Mantri Awas Yojana (PMAY). Rental housing plan to be introduced by the Modi Government will provide single room tenements (1 BHK flats) for families with an annual income under Rs 3 lakh. People will have to make 1 BHK Rental Housing Scheme Registration through offline or online mode (as specified in guidelines) after implementation.

PM Modi “Housing For All (HFA)” scheme aims to provide affordable housing to all the Indian citizens by FY 2022. This new PM Modi 1BHK Rental Housing Scheme is intended to provide houses on rent for migrant labourers in crowded metro areas. Ministry of Housing and Urban Affairs (MoHUA) and the Ministry of Labour together will implement the scheme.

PM Modi’s 1BHK Rental Housing Scheme is aimed at those lower income socio-economic groups who don’t have enough finances to own a new houses and have to migrate cities in search of better employment opportunities.

PM Modi 1BHK Rental Housing Scheme Registration

MoHUA has already prepared an elaborate plan to provide single room homes to families with annual income of Rs. 3 lakh or less. MoHUA will link the 1 BHK House on Rent Scheme with the flagship PM Awas Yojana. Here is how to make PM Modi 1BHK Rental Housing Scheme Registration:-

  • Firstly, the families earning Rs 3 lakh income or less will be registered by the urban local bodies.
  • Then each family will get rent vouchers issued by the govt.
  • The tenants will have to present these vouchers to the housing board.
  • In case the landlord is a private developer, then the tenants can redeem the rent vouchers at any citizen service bureau.

PM Modi House on Rent Scheme Implementation

The central government plans to run this scheme through a voucher system. Urban Local Body will determine the value of rent voucher on the basis of class or size of the dwelling unit and the prevalent rent in the city. The central govt. is also exploring the option of direct benefit transfer in this voucher scheme. As per the Census 2011 report, around 27.5% of urban residents lived in rented houses in 2011. So, the rental housing scheme will assist people living on rent.

In case the rent is higher than the value of rent voucher, the tenant would pay the difference in cash to the landowner. The government would also monetise the confiscated benami properties for construction of affordable homes to address the housing shortage.

Need for PM Modi 1 BHK Rent Homes Yojana

There are 2 major issues in the country for which the need to launch a new PM Modi 1 BHK Rent House Scheme is felt:- — First is the growing settlements in the slum where houses lack even basic facilities like water, electricity, toilets etc. — Second is the aspirations of lower income groups to live in a “pucca” tenement with basic facilities like tap water and attached toilets. PM Modi 1 BHK House Rent Scheme will facilitate the construction of high rise buildings with 1 room flats and offer them to people living on rent. To start this project, labour cess funds could also be used as the initial working capital. This scheme would be driven by MoHUA and other housing boards would also join to construct economical houses. It is also proposed that private sector firms would also be encouraged to construct houses under PM Modi 1BHK Rental Housing Scheme.