Adding Roofs — Budget 2004

The government is coming up with a series of housing loan packages targeted at different segments, to help spur a construction boom.
The housing programmes will have four components based on the levels of affordability of different categories of peoplern

rnUnder its lquote homeownership campaign, the Treasury will allocate Rs. 800 mn next year, to build houses, which cost under Rs. 100,000.rn

rnFor the burgeoning middle-income sector, the Treasury is offering concessionary loans to build low-rise apartments to be sold at prices ranging from Rs. 500,000 to Rs. 1.5 mn. rn

rnEach apartment will have a maximum floor area of 1,100 square feet and the government will provide land and basic amenities.rn

rnPrivate developers will construct the apartments according to specification set out by the government, Finance Minister K N Choksy said while presenting his 2004 budget to Parliament on Wednesday.rn

rnUnder a lquote self-aid programme, low wage earners will be allocated 26 corrugated sheets and thr