Finance
On Friday, the application procedure for the Odisha government’s Mo Ghara Yojana, which provides financing to build concrete dwellings so that everyone has a roof over their head, began.
An applicant must produce the house record land plot, Aadhaar card, and an identity card in his/her name in order to qualify for the loan. Loan applicants can register their names at https://rhodisha.gov.in/moghara. After registration, an OTP will be issued to her/his registered mobile number, which must be input correctly in the portal for successful registration.
Eligibility criteria for a loan under the ‘Mo Gahar’ Yojana
The following residents of Odisha are eligible for loans under the state government’s ‘Mo Ghar’ Yojana:
- If the family is living in a thatched house or a thatched roof house.
- If the family has not received any assistance from the government in the housing scheme before or has received assistance of less than Rs 70,000.
- If the monthly income of the family is less than Rs 25,000.
- If the family does not own a four-wheeler for personal use.
- If no member of the family has been a regular government employee or pensioner or a government enterprise.
- Households with less than 5 acres of irrigated land or 15 acres of non-irrigated land.
Beneficiaries of the Mo Ghar Yoganja can obtain a maximum bank loan of Rs 3 lakh and repay it over a ten-year period. While the general category would receive a Rs 30,000 subsidy, members of the ST/SC community will receive a Rs 40,000 subsidy if they borrow one lakh rupees. A loan of Rs 1 lakh, Rs 1.5 lakh, Rs 2 lakh, or Rs 3 lakh is available to a beneficiary.
The bank will not charge the beneficiary a processing fee for sanctioning the loan. For the loan application, the government will pay the legal advisor’s fee of Rs 1000. Eligible recipients who were not previously covered in this scheme will participate in other schemes such as toilet, electricity supply, and drinking water.construction.
There is an outlay of Rs 2,150 crore for 2 years for 4 lakh beneficiaries under the scheme.
