NEW DELHI : The central government increased carpet area of flats under the category of PM’s Awas Yojna , for middle income groups (MIG ) .According to the union minister Ravi Shankar Prasad the MIG –I category buyers will get the carpet area of 120 sq meters which has been enhanced from previous 90 sq meters .
According to the minister in the category II segment the carpet area has been increased to 150 sq meters from the current 110 sq meters .
Four percent interest subsidy is provided to the buyers , beneficiaries of MIG category I for a loan amount up to Rs. 9 lakh while in MIG II category the subsidy in interest provided is 3 % up to the loan amount of Rs.12 lakhs .
The beneficiaries of MIG category I must have annual income between Rs.6 lakh and Rs.12 lakh .
The housing bodies hailed the decision of the government to hike the carpet area of houses eligible for the interest subsidy under the Pradhan Mantari Awas Yojana –Urban .
The realtors said that this decision will help the middle income group (MIG) to get the home they just dream .
This decision has been taken under” the Housing For All By 2022 Scheme “.
The following are the features of the scheme :
MIG I category :
Annual Income / Rs.6=00 to Rs.12 lakh
Interest Subsidy: 4 % For Loan Upto 9 Lakh
Carpet Area of House: New 120 sq mt / Previous: 90 sq mts .
MIG II CATEGORY:
Annual Income: Rs.12 lakh to Rs.18 lakh
Interest Subsidy: 3 % for loan upto Rs.12 lakh
Carpet Area of Houses: New 150 sq meters / Previous 120 sq meters .