Affordable houses in less than Rs 5 lakh: Five things you want to know

The government plans to offer affordable houses below Rs 5 lakh.

Zee Media Bureau

New Delhi: At a time when only one percent of India's population can afford a house above Rs 10 lakh, the government is not only committed to building smart cities but also to offer affordable houses below Rs 5 lakh, Union Minister Nitin Gadkari has said.

1. An experiment has been done in Nagpur to construct a house on steel structure using 70 percent fly ash, which will be inaugurated on February 20.

2. The construction cost of the building comes at Rs 1000 a square feet.

3. The government will be able to provide 450 square feet house in Rs 5 lakh which will have solar system installed and furniture including bed made of fly ash.

4. A subsidy of Rs 1.5 lakh would be given on it.

5. The cost of the house will be Rs 3.5 lakh and loan will be available for 7 to 7.5 percent interest rate.

With PTI Inputs