It wont work for the following reasons.
1) The cheapest house costs 1.5MN with a 150k deposit,The rest of the amount is finance by a bank with a 5-20 year mortgage scheme which means monthly payment cannot be less than 10,000.
2) Who will finance the projects?Pension fund?banks?WIll they agree to lend money to this project which will earn them less interest rates whereas they can invest in other projects?
Its a scam because it wont solve the slum problems due to unaffordability of the houses and banking financiers and pension funds will be very skeptical in investing in projects earning less than 9% cbk rate.
SCAM 101