Credit Link Subsidy Scheme Extended till March 2020
Jan 18, 2019 Real Estate News
The Union Housing and Urban Affairs Minister, Hardeep Singh Puri, said that the centre had extended the credit link subsidy scheme on the middle-income group (MIG) till March 2020. The minister also informed that he has already signed the file that allows the extension of CLSS under which the government provides the subsidy of up to Rs 2.67 lacs on home loans.
Earlier the CLSS on the home loans for the middle-income group (MIG) category under the Pradhan Mantri Awas Yojana (PMAY) was till March 2019, which has now been extended. In the statement issued by the ministry, Puri said that "I had just signed a file before I came here. It was on the CLSS scheme which we have extended for one year up to March 31, 2020. The last extension was up to March 31, 2019.”
Last year, around 3.40 lac beneficiaries have availed the CLSS under the PMAY scheme.
Initially, the beneficiary for the MIG group was till December 31 2018, covering the beneficiaries seeking home loans for the expansion, acquisition or construction of a house with the help of banks and other financial institutions. But later it was extended to March 31, 2019. The ministry later issued a statement stating the same. "The proposal for extension of the scheme was considered based on the inputs from various stakeholders in the month of October 2017, and was accorded approval for extension by 15 months, i.e. up to March 31, 2019."
For the middle-income group under the credit link subsidy scheme, with the yearly income ranging from Rs 6 lacs to Rs 12 lacs will get an interest subsidy of four percent on a 20-year loan component of Rs 9 Lacs. Those with the income more than 12 lacs but less than 18 lacs, will get the interest subsidy of 3 percent.
Earlier the CLSS on the home loans for the middle-income group (MIG) category under the Pradhan Mantri Awas Yojana (PMAY) was till March 2019, which has now been extended. In the statement issued by the ministry, Puri said that "I had just signed a file before I came here. It was on the CLSS scheme which we have extended for one year up to March 31, 2020. The last extension was up to March 31, 2019.”
Last year, around 3.40 lac beneficiaries have availed the CLSS under the PMAY scheme.
Initially, the beneficiary for the MIG group was till December 31 2018, covering the beneficiaries seeking home loans for the expansion, acquisition or construction of a house with the help of banks and other financial institutions. But later it was extended to March 31, 2019. The ministry later issued a statement stating the same. "The proposal for extension of the scheme was considered based on the inputs from various stakeholders in the month of October 2017, and was accorded approval for extension by 15 months, i.e. up to March 31, 2019."
For the middle-income group under the credit link subsidy scheme, with the yearly income ranging from Rs 6 lacs to Rs 12 lacs will get an interest subsidy of four percent on a 20-year loan component of Rs 9 Lacs. Those with the income more than 12 lacs but less than 18 lacs, will get the interest subsidy of 3 percent.
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