Over 54,000 first home buyers availed interest subsidy under CLSS: Sources

As many as 54,000 homebuyers have so far availed the interest subsidy under the Credit Linked Subsidy Scheme (CLSS), according to senior officials from the ministry of housing and urban affairs. Of these, about 2,300 are from the middle income group (MIG), they said.

Last week, in a major boost to homebuyers, the government had extended the interest subsidy of about Rs 2.6 lakh on home loans under the Pradhan Mantri Awas Yojna (Urban) to the MIG beneficiaries by fifteen more months till March 2019.

So far, over 26 lakh affordable houses have been approved under the PMAY (Urban) with a total approved investment of Rs 1.39 crore for which a central assistance of Rs 40,597 crore has been approved. Around 48,000 houses have been so far approved under CLSS PMAY (Urban) for which interest subsidy has been released, officials said.

Last week, Housing and Urban Affairs Secretary Durga Shanker Mishra had said that the government has decided to give more time for MIG beneficiaries to avail interest subsidy under PMAY (Urban) at the Real Estate and Infrastructure Investors Summit organised by NAREDCO in Mumbai.

“We are looking to extend all possible support to overcome the hurdles adversely impacting housing construction so as to meet the target of Housing for All by 2022,” he had said.

  In July this year, the government amended the PMAY (Urban) Housing for All Mission guidelines to include any adult earning member irrespective of his marital status as a separate householder who does not own a pucca house. Earlier, the definition of a beneficiary’s family was limited to a family or a household consisting of husband, wife, unmarried sons and daughters who did not own a pucca (an all-weather dwelling unit) house. Now, even unmarried children of a household are eligible to apply for loans under PMAY.