JOIN USHousing Minister M H Ambareesh said on Tuesday that the State government was working out the modalities of the ‘Affordable Housing Scheme,’ wherein developers will have to earmark 25 per cent of the houses to lower income groups at subsidised rates.
Speaking to reporters in Bangalore, Ambareesh said that the affordable housing policy had already been approved by the State Cabinet.
The State government will soon hold discussions with builders to implement the policy, he said.
As per the policy, the government will give incentives to builders, including higher floor area ratio.
Ambareesh said 12 lakh houses would be constructed in the State in the next four years under various schemes of the State and Central governments for economically weaker sections of society.
Construction of three lakh houses had been completed in the last one year. The government is providing a subsidy of Rs 1.2 lakh per house, Ambareesh said.