look news india
The central government is likely to change the criteria and classification rules for the middle-income group who are beneficiaries of the Pradhan Mantri Awas Yojana (Urban) or PMAY-U scheme.
It may be announced in the next budget. The government is expected to resume interest subsidy for its urban housing scheme. The practice of giving CLSS to the urban poor under PMAY-U was discontinued in FY 201-22. Currently, under PMAY-U, families with an annual income of Rs 6 lakh to Rs 18 lakh fall under the middle income group. While the income slab of Rs 6 lakh to Rs 12 lakh comes under Middle Income Group-1 (MIG-1). Apart from this, those whose annual income is Rs 12 lakh to Rs 18 lakh come under MIG-2. Under the scheme, families with an annual income of Rs 6 lakh to Rs 12 lakh can currently buy or construct a property with a carpet area of up to 90 square meters. Also, families with an annual income of Rs 12 lakh to Rs 18 lakh can buy or construct a house with a carpet area of up to 110 square meters.
The middle class housing scheme was announced in the interim budget announced earlier this year. Which is likely to be a part of PMAY-U. The percentage of interest rebate to be given to the beneficiaries under the scheme is still being decided. After the change in the rules, the property carpet area available to the beneficiaries will be more than the property carpet area available under the Credit Linked Subsidy Scheme (CLSS). The middle class housing scheme was announced in the interim budget announced earlier this year, which is likely to be a part of PMAY-U.