The Odisha Cabinet, in a meeting chaired by Chief Minister Naveen Patnaik on Monday, approved a new housing scheme called “Mo Ghara”. The scheme aims at providing financial assistance to the lower and lower middle income households in rural pockets.

The “Mo Ghara” scheme will cover all such families, which were left out in the existing housing schemes due to stringent eligibility criteria or due to insufficient allocation, and also those who had received housing assistance of smaller amounts in the past and now want to upgrade or expand their houses.

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This is a credit-linked housing scheme with capital subsidy which is fully funded from the state budget. Under the scheme, aimed at construction, extension, up-gradation, completion of houses, a beneficiary can avail housing loan up to Rs 3 lakh which can be repaid in 10 years excluding one year moratorium period in easy installments.

They can opt for one of the four slabs of the loan amounts of Rs 1 lakh, 1.5 lakh, 2 lakh and 3 lakh, according to a statement issued by the State Government on Monday.

The eligibility criteria framed by the government for reaping benefits under the new scheme includes among other things the below Rs 25,000 monthly income for the beneficiary family.

The family, staying in a kutcha house or one pucca room with RCC roof not availing governmental housing assistance of more than Rs 70,000, is entitled for inclusion in the new scheme.

Around 4 lakh beneficiaries are targeted to be covered under the new housing scheme with estimated financial implications of Rs 2,150 crore over a period of two years.

A dedicated web portal is being launched for filing of online applications, monitoring and implementation of the scheme. The applicants will have to register in this portal before filing the applications which will be validated through OTP. The applications will be received through this portal from 16 June 2023.

The applicant will invest a minimum of I0% of loan amount as margin money either in shape of cash or kind or labor. The applicant needs to have a clear land title with land in Gharabari Kisam of Sthitiban Category. She/he will mortgage the title deed of the land and register at the concerned Sub Register office, the statement added.