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| Yuri B/Pixabay |
Tamil Nadu’s housing for the underprivileged scheme just received a shot in the arm (⚠ get vaccinated asap, ignore if done) with the Asian Development Bank (ADB) sanctioning a US$150 million (~INR 1,095 crore) loan to the state to provide access to inclusive and sustainable housing for the neediest.
With nearly
half of Tamil Nadu’s 72 million people living in urban areas, the state’s
current housing deficit is 6.66% of the national housing shortfall and a chunk
of it is in the low-income household segment.
What’s the Plan?
Through the
Tamil Nadu Slum Clearance Board, the project will construct housing units in
nine different locations and relocate about 6,000 households vulnerable to
natural hazards to safer locations.
Further to
this, ADB will also support Tamil Nadu’s Directorate of Town and Country
Planning develop regional plans to map the state’s economic and infrastructure
development including affordable housing, environmental protection, disaster
risk management, and gender.
A chunk of
this sanctioned grant will also be invested by the state government to catalyze
private sector financing and support investments, primarily in industrial
housing and working women’s hostels for low-income and migrant workers.
FYI, Tamil
Nadu Slum Clearance Board’s recently delivered residential towers seem to be plagued with quality
issues that have sent its residents into a state of panic, leading to a panel
from IIT Madras to inspect the buildings for
flaws.