Bhubaneswar: The Odisha government on Monday announced a housing scheme- ‘Mo Ghara Yojana’ to provide pucca home to economically weaker sections. Then scheme today got Cabinet approval.
The scheme will provide credit-linked financial assistance to those struggling to complete or upgrade their homes.
The new scheme, which aims to address financial obstacles faced by beneficiaries, fills a critical gap left by existing housing schemes. It promises to aid families that were previously excluded due to rigid eligibility criteria or insufficient allocation. It also aims to support those who received less significant amounts in the past and now wish to upgrade or expand their homes.
Offering major relief to financially strained households, the ‘Mo Ghara’ scheme provides credit-linked financial support, sourced entirely from the State Budget. This assistance, aimed at enabling construction, extension, or completion of houses, makes the scheme accessible to a broad range of economically disadvantaged households.
Potential beneficiaries of the scheme can obtain housing loans of up to Rs. 3 lakh, repayable over a 10-year period. Furthermore, the scheme offers four different loan categories, ranging from Rs. 1 lakh to Rs. 3 lakh, thereby providing flexibility for beneficiaries to select an amount according to their requirements.
The eligibility criteria for ‘Mo Ghara’ target those in need. Households residing in kutcha houses or in one pucca room with an RCC roof, having a monthly income below Rs. 25,000, and without a non-commercial motorized four-wheeler for personal use, are eligible for the scheme.
The scheme stipulates that the State Government will release a capital subsidy to the loan account of the beneficiaries upon completion of the house. A higher capital subsidy will be available for vulnerable groups such as scheduled castes, scheduled tribes, or families led by individuals with disabilities.