Added on : 2018-06-13 18:12:20
Good news for homebuyers, particularly those living in Tier II and Tier III cities. In a bid to give a boost to affordable housing as well as the construction sector, the Modi government has increased the carpet area for houses eligible for subsidy under the Credit Linked Subsidy Scheme (CLSS) for the middle income group (MIG) under the Pradhan Mantri Awas Yojana (Urban). As per the revised norms, MIG-I category home buyers with household income between Rs 6 lakh and Rs 12 lakh are now eligible for a subsidy for homes up to carpet area of 160 sq. m. from the earlier 120 sq. m. Similarly, MIG-II category home buyers with household income between Rs 12 lakh and Rs 18 lakh are also eligible for a subsidy for homes with a carpet area of up to 200 sq. m. from the earlier 150 sq. m.