Prime Minister Balendra Shah announced that the government aims to guarantee housing rights for all Nepali citizens through new legal and financial measures.
On Saturday, Shah shared on social media that the Building Act, 2083 has been submitted to the Federal Parliament Secretariat.
This proposed legislation focuses on providing housing assistance for low-income families and affordable housing options for middle-income households.
- The bill includes a plan to offer a subsidy of Rs 75,000 to low-income citizens wanting to build homes.
- This amount would consist of Rs 50,000 from the federal government and Rs 25,000 from the provincial government.
Additionally, it proposes providing free river and forest materials to Nepali citizens constructing their first homes, following government standards and designs.
Similar support is suggested for those building sheds.
Safe Housing for Vulnerable Communities
The legislation also focuses on individuals living in hazardous and disaster-prone areas.
According to Shah, the government plans to relocate these communities to safer locations and build new homes for the affected residents.
For middle-income families, the proposed Act aims to provide safe, earthquake-resistant, and smart homes that meet basic standards.
Shah mentioned that homes costing between Rs 2 million and Rs 7.5 million could be accessible through subsidized loans under these proposals.
Proposed Payment Plans
- The proposal outlines various payment options for citizens interested in subsidized housing.
- One plan allows individuals to secure a house by paying Rs 500,000 upfront, followed by monthly payments of Rs 11,000 over 15 years.
- Other payment plans offer different combinations of advance payments and monthly installments, including options for Rs 100,000, Rs 1.5 million, Rs 2 million, and Rs 2.5 million upfront.
- These provisions are included in the bill submitted to Parliament and will undergo a legislative process before becoming law.
- The government aims to create a legal framework for housing rights, addressing the needs of low-income families and promoting safer, more organized housing for middle-income citizens.