In an effort to address the pressing issue of affordable housing, the Odisha government has launched an innovative scheme called “Mo Ghara,” which aims to revolutionize housing assistance for low-income individuals and families. This groundbreaking initiative is set to make a significant impact on the lives of countless people who have long struggled to find decent and affordable housing options.
The project was approved during the Cabinet meeting today.
Salient features of this scheme
📌 This scheme aims at construction, extension, upgradation and completion of houses.
📌 Under the scheme, a beneficiary can avail housing loan upto 3 lakh which they can repay in 10 years.
📌 One of the key features of the Mo Ghara scheme is the provision of subsidized loans and grants to eligible individuals and families. This financial assistance will enable them to secure affordable housing and reduce the burden of high mortgage payments or rental costs.
Implementation process
To streamline the application and allocation process, the government has developed a user-friendly online portal for Mo Ghara. This digital platform will serve as a centralized hub where applicants can submit their information, track the progress of their applications, and receive updates on available housing options.
1.The applicants will have to register in this portal before filing the applications which will be validated through OTP.
2.The applications will be received through this portal w.e.f 15th June2023.
3.The applicant will register either by her/himself and may use the services of Mo-Seva Kendra.
4.During filing of application, applicant will furnish information alongwith documents like Passport Size Photo & Aadhaar Card & KYC Document (Voter ID, PAN Card, Job Card, Driving License) & Caste Certifica te & PWD Certificate & Income Certificate & Land record
5.The applicant needs to have clear land tittle with land in Gharabari Kisam of Sthitiban Category. She/he will mortgage the tittle deed of the land and register at the concerned Sub-Register office.Loan will be released in 2/3 installments on achievement of pre defined stage of construction.
6.The beneficiary,if interested, can repay the loan amount earlier than the scheduled period of 10 years. They can also opt for paying higher EMls.No-prepayment charges will be imposed by bank for this period.
Eligibilty criteria:
1.If the family is staying in a pucca or kuchha house with RCC roof
2.If the income of the family per month is below 25,000
3. If the family owns below 5 acres of irrigated land or below 15 acres of non irrigation land.
4.If the family don’t possess any 4 wheeler for their use.
State Government will release capital subsidy to the loan account of the beneficiaries on completion of the house and the enhanced capital subsidy will be available to the vulnerable categories like SC/ST and PWD headed households. The rates of the subsidy as decided by the State Cabinet is as follows:
1.The capital subsidy released to the loan accounts of the beneficiaries will result in significant reduction in EMI for repayment and thus make the repayment more affordable.
2.Banks will not charge any processing fee from the beneficiary for sanction of the loan.
In order to further reduce the financial burden for the beneficiaries , the registration fee and stamp duties required during mortgage of tittle deed have been waived off by the State Government.
3. The charges for getting certified copies of relevant documents from the Sub-Registrar offices as required by bank for processing of loan applications under this scheme will also be waived.
Let’s have a look at the proposals approved by Odisha Cabinet
📌Amendment of Odisha (Non-Government Colleges, Junior Colleges and Higher Secondary Schools) Grant-In-Aid Order, 2008.
📌Implementation of the Institute Development Plan with an outlay of Rs 2000 crore for transformation of Veer Surendra Sai University of Technology, Burla.
📌Cadre restructuring of Women and Child Development Department and creation of new posts.
📌Konarkrk Heritage Area Development Project (KHADP) in Konark under the Integrated Development of Heritage & Monuments and Tourist Destination Scheme on a turnkey basis.
📌Work Development of Ekamra Kshetra under EKAMRA Conservation Plan In Bhubaneswar on a turnkey Basis.