Modi govt increases carpet area of houses under PM Awas Yojana
Under the PMAY-U, the
Centre aims to provide houses to all the urban poor by 2022
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NEWS : The Centre on Thursday approved the enhancement of the carpet
area of houses for the middle-income group (MIG) category under the Pradhan
Mantri Awas Yojana- Urban (PMAY-U) .
Under the MIG-I category, the
carpet area of the houses has been enhanced from 90 sq.mtr to 120 sq.mtr, while
under the MIG-II segment, it has been increased to 150 sq.mtr from the current
110 sq.mtr, Union minister Ravi Shankar Prasad told reporters while briefing
them about the Union cabinet decisions.
Under the MIG-I category, a
four-per cent interest subsidy is provided to the beneficiaries, whose annual
income is between Rs 6 lakh and Rs 12 lakh, on a loan of up to Rs 9 lakh.
Similarly, under the MIG-II
category, the beneficiaries with an annual income of Rs 12 lakh to Rs 18 lakh
get an interest subsidy of three per cent on a loan of up to Rs 12 lakh.
Under the PMAY-U, the Centre aims
to provide houses to all the urban poor by 2022. Currently, the shortage of
houses is pegged at over 10 million in the urban areas.
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