Madhya Pradesh govt. to start MP Rent and Own Housing Scheme 2020, people can buy a property, pay rental equal to installment & get ownership
CM Kamal Nath was reviewing housing projects with UAD and Rural Development Department.
Madhya Pradesh Urban Administration Department will soon start a new MP Rent and Own Housing Scheme 2020 for those wanting to buy new houses. Under this scheme, a person will be allotted a new house and will have to pay the house rent as well as monthly installments. Upon completion of the payment, equal to the price of the house, the person will get ownership of the house. This rent-to-own scheme will be a part of the National Urban Rental Housing Policy and will include a no-eviction guarantee.
If they rent from housing units of government bodies, the ownership of the property will be given to the tenants. For this purpose, they have to pay the full value of the property in easy installments within a fixed period. This MP Rent and Own Housing Scheme 2020 will help those who cannot afford housing as they neither get the loan nor the upfront money left to invest in the property. The scheme will be a part of the Chief Minister Housing Scheme under the Chief Minister Housing Scheme.
CM Kamal Nath, while reviewing the housing projects with the UAD and the Rural Development Department, announced this for the launch of the MP Hire and Self Scheme. The CM asked rural development officials to make similar housing schemes for people living in rural areas.
MP Rent and Self Housing Scheme 2020 – CM Housing Mission
MP Chief Minister Kamal Nath asked the officials of Urban Administration Department (UAD) to pay more attention to the CM Avas Mission. Now people will be able to buy a new property by paying installments equal to the rent of the house and thus they will get ownership. This MP Rent and Own Housing Scheme 2020 is an ultimate option for buyers or tenants who are not eligible for a home loan due to poor credit score. People can now pay rent on time which will also serve as a home installment for them and the credit score will improve as they get new home ownership.
With the new MP Rent and Own Housing Scheme by 2020, people will get more flexibility in choosing the right home for themselves. Buyers can adapt themselves to market conditions. That is, they can stay on rent as long as prices do not fall. Later they can plan to buy a property when prices stabilize. As part of their rental plan, buyers will have the benefit of living and experiencing the community if the apartment matches their lifestyle before taking the pledge.
CM Kamal Nath raised the issue of the share of the state government in the Pradhan Mantri Awas Yojana (PMAY) housing scheme. He said that the state government’s share in PMAY is more in providing housing to the people, then why is the PM housing scheme given more importance. All officers of the Urban Administration Department (UAD) should ensure that due importance is given to the CM Housing Mission.
UAD officials also pointed out that there are financial woes for the UAD department as the state government is not getting the central government share on time. Financial challenges also came from the state government. The CM asked the officials to study the model of housing in Andhra Pradesh and Maharashtra and replicate the appropriate clauses in Madhya Pradesh.
Highlights of the Scheme
| Name of the scheme | MP Rent and Own Housing Scheme |
| Launched by | Mr. Kamal Nath, Chief Minister |
| Launched date | Release soon |
| Name of the department | Urban Administration Department, Madhya Pradesh |
| Application mode | Online |
| Beneficial for | People of the state |
| Benefits | Own house |
Benefits of the scheme
- Beneficiaries will get own house
- Beneficiaries need not to pay the house payment amount in a time
- The Beneficiaries can pay monthly installments as rent- of the house
- Easy way to buy own house under this scheme
Procedure to Apply For Rent and Own Housing Scheme
The application procedure is not yet disclosed by the department, the detailed procedure will be updated soon. Here is the procedure commonly used to follow:
- To apply for the scheme contenders need to go to the official website of the department
- Now you need to search MP Rent and Own Housing Scheme registration link
- Click on it and read the instructions, click continue option
- Fill the application form with all the required details such as name, contact details, id proof etc.
- Upload the image & signature in JPG format in the mentioned dimension
- Submit the application form by click submit option
- Take a print out of the form for further use.