With the deadline for CLSS (Credit Linked Subsidy System) having expired on March 31, 2021, the Indian government has decided to expand the benefits for MIG categories.
Earlier in May 2020, the Finance Minister had announced that the deadline for affordable housing loan schemes for medium-income families would be extended until March 2021.
Govt Extends Affordable Housing Scheme
The government is most likely to consider extending the benefits of the CLSS, said Amrit Abhijat, Joint Secretary and Mission Director, Ministry of Housing and Urban Affairs (MoHUA). The request was made based on an assessment of the banking
During the COVID-19 pandemic, more than 10.75 lakh houses were built under the Pradhan Mantri Awas Yojana (Urban), and with more than 2.55 lakh in Uttar Pradesh alone.
The implementation of PMAY (U) will be in its sixth year. Till date, the department has approved 111 lakh houses, of which 73 lakh houses have been constructed and more than 43 lakh houses have been issued, in response to an estimated demand of 112 lakh house demand.
By the year 2022, when the nation celebrates its 75th Independence, the Ministry of Housing and Urban Affairs aims to provide 'pucca houses' to all eligible Indian beneficiaries.
The focus is on speeding up the construction, completion and supply of houses in the country within a specified time period under PMAY(U).
By: Shailaja K