New year offers to the home buyers, gifts are being increased, this scheme is being increased
The central government has brought a good news for home buyers. The Ministry of Housing and Urban Affairs has increased the credit linked subsidy scheme (CLSS) for the middle class (MIG) from 12 months i.e. to 31 March 2020. Housing and Urban Development Minister Hardeep Singh Puri has said that CLSS’s growth and performance have been very good for the MIG scheme and by the end of this year, the number of beneficiaries is expected to reach one lakh.
During the message of the nation on December 31, 2016, Prime Minister Narendra Modi had announced the introduction of new CLSS for MIG to fulfill the aspirations of young businessmen and entrepreneurs of the MIG class.
The benefits come from this plan
Under the scheme, home and buyers of low and middle income groups get subsidy of up to 3 to 6.5 percent in the interest rate on home loans. The amount of the subsidy is transferred directly to the beneficiary’s bank account. Puri said that significant progress was made in 2018 under PMAY, Metro Rail, Smart City and Sanitation Campaign.
Beginning January 2018
For the MIG scheme, CLSS was started for 12 months on December 31, 2017. Under this, the beneficiaries of the MIG who were taking loans from banks, home loan companies and other such notified companies were included in the construction / construction of the house.
The carpet area was extended
In the beginning of this plan in November 2017, the carpet area of the flat for MIG-I and MIG-II was ‘120 square meters’ and ‘150 square meters’. Later, in June 2018, the carpet area of accommodation for MIG-I and MIG II was increased to ‘160 square meters’ and ‘200 square meters’ respectively.