CLSS scheme to benefit middle class
Real estate developer body Naredco has welcomed the government’s announcement for implementation of operational guidelines for the Credit Linked Subsidy Scheme (MIG), saying that it will strengthen the execution of its larger goal of Housing for All and improve the development and promotion of affordable housing in the country.
Minister of housing and urban poverty alleviation, M Venkaiah Naidu released the Operational Guidelines for CLSS (MIG) this week.
As per the guidelines, middle income groups (MIG) with an annual income of above ` 6 lakh and up to ` 18 lakh per annum are eligible for interest subsidy on housing loans under the new CLSS (MIG) scheme. Those who have been sanctioned housing loans and whose applications are under consideration since January this year are also eligible for the interest subsidy.
Commenting on the announcement, Parveen Jain, president, NAREDCO said, “The operational guidelines for the MIG group will be beneficial for urban areas, as the group is better equipped to take advantage of the interest subsidy scheme. It will enable this group of homebuyers to invest in housing. Those in the wait and watch mode will now be able to invest.”