Will the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:
(a) whether the Government proposes to provide loans to banks for building houses in urban areas and if so, the details thereof; and
(b) the details of the rate of interest, loan return time, etc. in this regard?
THE MINISTER OF STATE IN THE MINISTRY OF HOUSING AND URBAN AFFAIRS
(RAO INDERJIT SINGH)
(a) & (b): Under Credit Linked Subsidy Scheme (CLSS) for EWS/LIG component of Pradhan Mantri Awas Yojana (Urban) {PMAY[U]}, beneficiaries of Economically Weaker Section (EWS) having household annual income upto Rs. 3,00,000/- and Lower Income Group having household annual income between
Rs. 3,00,001/- and upto Rs. 6,00,000/- are eligible for an interest subsidy at the rate of 6.5% on housing loans up to Rs. 6 lakh for a maximum tenure of 20 years.
Government of India has also launched a new Credit Linked Subsidy Scheme to provide interest subsidy for housing loans to eligible beneficiaries belonging to Middle Income Group (CLSS for MIG). The Scheme covers two income segments in the MIG viz. annual household income between Rs. 6,00,001 to Rs. 12,00,000 (MIG-I) and annual household income between Rs.12,00,001 to Rs.18,00,000 (MIG-II). The interest subsidy under the new scheme will be available to beneficiaries of MIG-I category and MIG-II for loan amounts upto Rs.9,00,000/- and 12,00,000/, respectively. The interest subsidy will be at the rate of 4% and 3%, respectively.
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