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Govt extends interest subsidy on MIG housing till 2020

MIGHousing
The central government has extended the validity of interest subsidy benefit of about Rs.2.60 lakh on home loans under Pradhan Mantri Awas Yojana (Urban) for beneficiaries belonging to Middle Income Groups (MIG) till 2020, said Secretary (Housing & Urban Affairs), Durga Shanker Mishra. Under CLSS, MIG beneficiaries with annual income of above ₹6 lakhs and up to ₹12 lakhs would get an interest subsidy of 4% on a 20 year loan component of ₹9 lakhs. Those with annual income exceeding ₹12.00 lakh and up to ₹18 lakh would get interest subsidy of 3%. The government is considering a plan to acquire surplus land parcels of public sector enterprises to develop housing projects and townships under the Prime Minister’s affordable housing scheme.
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