BHUBANESWAR: To assist beneficiaries of affordable housing projects in obtaining accessible home loans, the Bhubaneswar Municipal Corporation (BMC) has collaborated with a leading private sector bank.
A recent meeting focused on outlining the respective roles of the bank and the civic body in launching a pilot project aimed at helping urban poor beneficiaries navigate complex banking regulations.
The pilot initiative will support 600 beneficiaries who have been allocated homes within various affordable housing schemes in Bhubaneswar but face challenges in contributing their share towards the properties. These projects are implemented under the Pradhan Mantri Awas Yojana (Urban) 2.0.
In the PMAY-U 2.0 affordable housing projects, there are three key parties—the state, the Centre, and the beneficiaries—each contributing in a ratio of 40:40:20. Beneficiaries typically pay around Rs 1.5 lakh for their homes.
