The Central Government has sanctioned construction of one lakh more affordable housing units for the urban poor under the Central Government’s ambitious initiative ‘PM Awas Yojana’. It will invest Rs 4,200 crore on this.
Indian Prime Minister Shri Narender Modi has made this announcement on the eve of New Year in the name of the nation in his message.
Let’s know 10 special things related to it –
- New government directives have been issued in the interest rate subsidy scheme under PM Awas Yojana (Urban), after which the middle-income group (MIG) will get the benefit of buying a home loan to buy the house.
- According to an official release, with the latest allocation, Ministry of Housing and Urban Poverty Alleviation has planned to build 18.75 lakh houses for economically weaker sections in 2,151 cities and towns across the country. This scheme was started in June 2015.
- Under the Pradhanmantri Awas Yojana (urban), those earning less than Rs. 6 lakhs to 18 lakh rupees per annum are entitled to subsidy in the home loan interest on buying the first house.
- This scheme has been named as Credit Linked Subsidy Scheme for Middle Income Groups (CLSS-MIG).
- Prime Minister Narendra Modi had announced that those earning up to Rs 12 lakh will be given four per cent subsidy on home loan upto Rs 9 lakhs, while 3 percent subsidy will be given on the loan of upto 12 lakh to the people who earns 18 lakh rupees.
- Under the new sanctions, 57,131 houses will be constructed in Madhya Pradesh. After this, 24,576 houses will be built in Tamil Nadu in second place.
- Under this scheme, 2.66 lakh houses will be built in Madhya Pradesh, which will cost a total of Rs 18,283 crore.
- A total of 2.52 lakh houses will be constructed in Tamil Nadu, which will cost Rs 9,112 crore.
- Under this scheme, every beneficiary will get financial assistance of up to Rs 2.35 lakh.
- This plan will initially be implemented for just one year.
News Source: https://khabar.ndtv.com/news/business/govt-approves-1-lakh-more-affordable-homes-under-pmay-urban-1686493