Government housing scheme subsidy for middle class extended till March 2019

Posted on:23 Sep 2017 15:36:41
Government housing scheme subsidy for middle class extended till March 2019
23 September 2017 Current Affairs: Under the NDA government’s flagship Pradhan Mantri Awas Yojana (Urban) ‘Housing for All’ programme, Government decided to extend interest subsidy of Rs 2.60 lakh on home loans for the Middle Income Group (MIG) up to March 2019.

Initially the scheme was available for beneficiaries under the “middle class” category till December 2017 only.

Under the new scheme, those with an annual income of up to Rs 12 lakh can avail a 4% interest subsidy on a loan of Rs 9 lakh while those with an income up to Rs 18 lakh will get an interest subsidy of 3% on a loan of Rs 18 lakh.

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