Guidelines for Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)

Interest Subsidy Scheme for Housing for the Urban Poor (ISHUP) is aimed at providing cheap loans to the urban poor who have a plot but insufficient funds for constructing a pucca house for themselves. The scheme gives them an interest subsidy of 5%, per annum for loans upto Rs.1 lakh for EWS (per month housing hold income below Rs.5,000/-) and LIG (per month house-hold income between Rs.5,001/- to Rs.10,000/-) Under this scheme, interest subsidy of Rs.1,100 crore allocated to the scheme is expected to leverage institutional finance of Rs.3,870 crore. The scheme has been kept as a pilot for the 11th plan, partly because of the limitation of funds, and partly with a view to evaluate demand for this package. It is hoped that the states and ULBs will promote it actively in towns in which no housing is being provided under JnNURM or any state scheme.

HUDCO has been identified as one of the nodal agency towards implementing the scheme.

Leh Rehabilitation Project for Victims of Cloud Burst of 5 - 6 August 2010 by HUDCO as a Corporate Social Responsibility Initiative

Ladakh was struck by a cloudburst on 5th/6th August 2010 that wiped out the lives of more than 150 people, left more than 500 missing and washed away houses across Ladakh region.

Situation analysis - It was observed that the damage to houses was on account of their location in areas serving as channels facilitating flow of floodwaters. Since housing sites were washed away, the District Administration allotted them plots of 30 x 60 ft size in the Solar Colony near Leh. Traditionally houses have 2-3 rooms and were constructed either with mud blocks or dressed stone to withstand the extremely cold climatic conditions.