New Rental Housing Policy 2017 launched by PM Narendra Modi is all set to pay house rent of BPL (Below Poverty Line) Families. The scheme will benefit Urban Poor living in 100 Smart Cities. The work is already in progress and will go live in this financial year 2017-18. Under this new rental housing policy 2017, rent vouchers will be distributed to the eligible families of selected cities.
The urban local bodies will directly give the rent vouchers to the owner of the house. In return, the owner can redeem cash from the rent vouchers at any Citizen Service Bureau. In case, owner finds difference between the actual rent price and the value of Rent Voucher, then the tenant( person living in rented house) will pay the remaining amount personally to the land lord.
Urban Local Bodies will be responsible to determine the value of Rent Vouchers which would be based on dwelling unit size as well as prevalent rent rates across that city. Schemes like Direct Transfer Benefit can also be seen in coming years with new rental housing policy 2017 of Narendra Modi.
Let’s see how effective this new rental policy 2017 turns out.