The central government recently announced that the benefit of interest subsidy of about Rs 2.60 lakh on home loans under Pradhan Mantri (PM) Awas Yojana (Urban) for middle income groups (MIG) has been extended by 15 months. After the extension, the benefit of Rs 2.6 lakh subsidy will be available till March 2019. On 31 December last year, Prime Minister Narendra Modi had announced that the credit linked subsidy scheme (CLSS) under PMAY (Urban) will be applicable to middle income groups till the end of December this year.
How To Avail PM Awas Yojana Scheme In 10 Points
PM Awas Yojana subsidy
8) Home loans sanctioned or applications are under consideration since January 1, 2017, are eligible for interest subsidy under the Credit Linked Subsidy Scheme for middle income groups under the PM Awas Yojana.
9) Beneficiaries eligible for interest subsidy under the CLSS scheme have to apply to their lenders for availing the subsidy benefit.
10) Interest subsidy will be provided on loans for construction/acquisition of house with carpet area of up to 90 sq metres for those with income of up to Rs. 12 lakh per year and of up to 110 square metres for those earning between Rs. 12 lakh and Rs. 18 lakh per year.
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