The scheme came up for discussion during the Union Cabinet meeting on Thursday, but as the rural component was yet to be added to the ambitious scheme, it was decided to announce it at a later date, sources said.

The Cabinet may discuss the issue again before the Urban Development Ministry brings it to public domain. The blueprint of the National Urban Housing Scheme, to be called Sardar Patel National Housing Mission, is ready and likley to be considered by the Cabinet on Friday, sources said.

Housing and Urban Poverty Alleviation Minister M Venkaiah Naidu had extensive consultation with the stakeholders including state governments, real estate representatives and financial institutions among others on NDA government's mega scheme before finalising it.

Prime Minister Narendra Modi has made it clear that affordable housing is a focus area which the government intends to promote as a priority sector.

The construction of affordable houses would be done on public-private partnership model. The scheme will have provisions for tax incentives on interest rates charged by banks on loans for the poor section of the society.

Latest News from India News Desk