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One Nation One Housing Policy Concept Notes on RERA RBI House with Housing Loan as Vouchers (Demand Side) 

This is the sixth article and you may read from June 2018, Aug 2021 and 6th, 11th, 13th August 2022 articles published in Tax Guru for your clarity.

Shelter able space created is equal to shelter able space absorbed. In one Co-operative housing society at one acre 2.778 FSI with a land cost of 4.38 crores and balance for construction cost is equal to Rs. 30 Crores, for 120000 Sq. ft. at Rupees 2500  of 100 units of 1200 Sq. ft. flats for 8 citizens  at 30 lakh rupees of vouchers, repayable in 25 years in monthly EMI.  Or this may be equal to 133 units of 900 Sq. ft at 22.5 lakhs repayable in 25 years monthly EMI or this may be equal to 266 units of 450 SQ. ft. at 11.25 lakhs repayable in 25 years EMI roughly come around 21,000, 15,810, 7,905 at 7 % home loan rates.

Once a building permission is given if nit is government through co-operative housing under the Ministry of co-operation under one nation one housing policy all the FSI should be in dwelling units of 450, 900, 1200, or in combination.  Similarly for private housing at least 50 % of the total FSI sanction should be in 450, 900, 1200 Sq. ft. dwelling units, so that these vouchers can be encashed by the builder.  This will pave way for true meaning of housing for all,  adequate housing, affordable housing and EMI will be less than 20 % of the combined salary income from 6 lakhs to 18 lakhs yearly income households, Ever rent payers,  first shelter seekers, living in chawls, marginal titled households, slum dwellers and existing households in 33 plus old structures and either in long lease lands or owned properties, all will get covered.

Building sanction is different, securitisation is different. So, RERA & RBI should vet each and every project for land compensation bond compliance and house with housing loan voucher compliance in each and every housing projects before RERA gives final approval.  So that inequality in pricing and reservation is justified.

This voucher scheme is based on Tamil Nadu Government affordable  housing  policy No.61 of 2020 vetted by World  bank and ADB before finalising their loan. We trust we have complied with what they meant and this can be a common approach to eradicate shelter-less ness. We call it a true Dravidian model of housing for all.  At all times, at all places throughout the globe.

We have given importance to social justice, rational thinking, humanity, equality and self-respect which are the main principles of Dravidian socio economic thought process.  JAIHIND

Article by: Narasimhan, Prakash & Sriram

Also Read 

One Nation One Housing Policy – Concept Notices

One Nation One Housing Policy

One Nation One Housing through Ministry of Co Operation

Affordable Housing For for Homeless through Free FSI

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