The government will provide materials to concessional loans for the construction of houses
Kathmandu. The government has proposed to expand housing facilities targeting first-time home-building citizens to poor and middle-income families. For this, the Ministry of Infrastructure Development has registered the bill of Building Act, 2083 in the Secretariat of the Federal Parliament.
The proposed bill aims to provide concessional construction materials to cash grants and concessional loans to the citizens who want to build a house. Different facilities have been proposed especially targeting first-time home builders, poor and poor families and middle-income citizens.
According to the bill, first-time Nepali citizens will get the necessary river-based and nature-based construction materials free of cost if they build their houses according to the type design and criteria set by the government. It has been proposed to provide the necessary natural materials free of cost to the citizens who apply for the construction of cowsheds.
It has been proposed that the federal and provincial governments will jointly provide grants for the construction of houses for the poor and disadvantaged citizens. The bill provides that the federal government can provide a grant of up to Rs 50,000 and the provincial government Rs 25,000. Similarly, the bill also proposes that the government will relocate the settlements that are at risk due to disasters and are in unsafe places to safer places and build new houses.
The bill also introduces the concept of safe and orderly housing for middle-income families. According to the proposed provision, earthquake-resistant and smart houses that meet basic standards will be constructed and provided.
The cost of such houses has been proposed to be between Rs 20 lakh and Rs 75 lakh. The plinth area of the house is proposed to be in the range of 900 to 1,300 square feet. The bill also proposes that citizens can take concessional loans for the purchase or construction of such houses.
The proposed scheme has the option of different advance payment and monthly installments according to the cost of the house. As per the initial option, Rs 5 lakh can be paid in advance and the remaining amount can be paid in installments of Rs 11,000 per month for 15 years.
Likewise, those paying Rs 10 lakh in advance will get Rs 15,
000 per month, Rs 15 lakhs in advance, Rs 20,000 per month, Rs 30,000 per month and Rs 35,000 per month for those who pay Rs 1 million in advance.
The government has introduced a new legal provision with the objective of ensuring basic housing for low-income families and providing middle-income citizens with access to safe and well-managed homes.
After the bill is passed by the parliament and becomes law, the proposed provisions related to grants, concessions in construction materials, settlement relocation and subsidized housing loan will come into effect.
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