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or the loan duration. This NPV of the subsidy will be given by the central government to lenders through its nodal agencies NHB and HUDCO on upfront and quarterly basis.

Affordable Housing in Partnership (AHP):-

The scheme of affordable housing in partnership aims at the operating the strategy envisaged in the National Urban Housing & Habitat Policy (NUHHP) 2007, of promoting various types of public-private partnerships of the government sector with that of the private, cooperative, financial services sectors and urban local bodies for realizing the goal of affordable housing for all. Provisions in the scheme include:

Modification in the guidelines of JNNURM (BSUP) to facilitate and incentivize land assembly for affordable housing.

Provision of central assistance of 25% for the cost of the provision of civic services for projects for affordable housing at an approximate cost of Rs.5,000 crores.

Support the construction of 1 million affordable dwelling units in the first phase, with a minimum of 0.25 million EWS dwelling units.

Disbursement of funds linked to the actual provision of amenities. A normative cap per EWS/LIG dwelling unit to be fixed in consultation with the states for the purpose.

Criterion for eligible projects includes:

Dwelling units should be a mix of EWS/LIG/MIG categories with the maximum size of a dwelling unit being at 1200 sq. ft super area, with at least 25% of them for EWS of 300 sq. ft.

The states would be encouraged to promote projects in the Public Private Partnership (PPP) mode in a manner in which there are competing private sector suppliers in the market for affordable housing.

State Governments could also consider seeding new areas for development through their housing boards, development authorities as well as through the various employee welfare organizations.

The scheme will be operated in the same manner as JNNURM.

Rajiv Gandhi Awas Yojana:-

Rajiv Awas Yojana envisages a ‘Slum-free India’. The scheme focuses on:

Granting property rights to slum dwellers and urban poor living in such areas by the concerned states and union territories.

Provision of basic amenities like water supply, sewerage, drainage, internal and approach roads etc. in slums and low income settlements.

Providing subsidized credit for construction of houses to slum dwellers.

Plan of Action under RAY is

Part-1:- Slum Redevelopment

Part-2:- Containment of Future Slums

Minimum Housing Size is 25sqm carpet area.

Financial Strategies:

Rajiv Awas Shelter Fund:

To keep the slum/urban poor beneficiary from turning defaulter due to unemployment

To share the lender’s costs of servicing the loan.

Rajiv Awas Yojana Residents: Take care of tracking each borrower, and ensuring repayment. In the event of intentional failure to pay the loan, this intermediating agency should also provide help to the lender to foreclose on the mortgage.

RAY will also focus on multiple models like PPP in reconstruction of slums and shelter or Viability Gap Funding for the slum dwellers that are unable to get loans for ownership of houses will be emphasized.

RAY Central Suppo