Moneycontrol
Last Updated : Jun 26, 2018 04:42 PM IST | Source: Moneycontrol.com

Macro@Moneycontrol: Widening scope of PMAY and its impact on housing segment

But will the subsidy be useful for the common man? Watch the accompanying video for the answer..

The government has approved a 33-percent increase in carpet area of houses eligible for interest subsidy under its affordable housing scheme Pradhan Mantri Awas Yojana-Urban (PMAY-U) to attract more beneficiaries.

The carpet area of a house has been enhanced to 160 sq m from 120 sq m for Middle Income Group-I (MIG-I), while it has been increased to 200 sq m from 150 sq m in case of MIG –II.

The new rules will be effective from January 1, 2017, the date on which the scheme became operational, the ministry said in a release.

Under the Credit Linked Subsidy Scheme (CLSS), each beneficiary can avail subsidy up to Rs 2.35 lakh on purchase of a house under the scheme.
First Published on Jun 26, 2018 04:42 pm
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