New Delhi. The government is planning to provide more relief to middle class families who are dreaming of buying a house. According to exclusive information received by CNBC from sources, the government can increase the scope of the New Housing Scheme.
There is a plan to increase the limit set for the benefit of credit linked subsidy in this scheme. If this happens, then houses of higher price than before will come under the scope of this scheme.
Apart from this, there is a proposal to simplify the definition of middle class in the scheme. These decisions will benefit the middle class family. According to sources, the Urban Development Ministry has sent the draft note and guidelines to the Cabinet for approval, which is likely to be approved in 2 to 3 months. In Budget 2024, Rs 2.2 lakh crore has been allocated for PMAY-U in 5 years.
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According to information received from sources, interest rebate is possible on houses up to Rs 50 lakh under the government’s New Housing Scheme.
-Under this discount, beneficiaries of Pradhan Mantri Awas Yojana-Urban (CLSS) will get a discount of 3 to 6.5 percent in interest rates. Currently, the Credit Linked Subsidy Scheme provides discount on interest on houses up to Rs 45 lakh.
-In the new scheme, the government has set a target of building 1 crore houses.
-For the convenience of the beneficiaries of this scheme, all approvals will be given through single window system.
