Home loan EMIs under PradhanMantriAwasYojana for middle-income groups: Eligibility, interest, preference to women
In his new year's eve address Prime Minister NarendraModi announced PradhanMantriAwasYojana (Urban) for middle-income groups. And now, the government has come up with the scheme related guidelines. This interest subsidy scheme has been named as 'Credit Linked Subsidy Scheme for Middle Income Groups - CLSS(MIG)'. According to the Credit Linked Subsidy, which is a part of the PMAY scheme, middle-income groups with incomes in the eligible range will get an interest rate subsidy of 3-4 per cent. Initially, the scheme will be implemented for a period of one year. Here is all you need to know about PradhanMantriAwasYojana (PMAY): Eligibility: · Middle Income Groups (MIG) which fall under the bracket of annual incomes of above Rs 6 lakhs to Rs 18 lakhs are eligible for interest subsidy on housing loans under the new CLSS(MIG). · People whose housing loans have been approved and whose applications are under consideration since January 1,2017 are
