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Government increases carpet area for middle class houses eligible for CLSS interest subsidy

In a major decision to bolster affordable housing and construction sector leading to enhanced economic activity, the government has increased the carpet area of houses eligible for interest subsidy under the Credit Linked Subsidy Scheme (CLSS) for the Middle-Income Group (MIG) under Pradhan Mantri Awas Yojana (Urban). As per the revised norms, the Ministry of Housing & Urban Affairs has enhanced the carpet Area of houses eligible for subsidy under CLSS for MIG to 160 sq meter or 1,722 sq ft for MIG -I and 200 sq meter or 2,153 sq ft for category MIG-II. Earlier the carpet area for these houses under MIG I and MIG II category was fixed at 120 sq meter or 1,291 sq ft and 150 sq meter or 1,614 sq ft.

Source : ET Realty