Interest Subsidy Scheme on home loans for MIG extended to March 2019

Under the Centre’s affordable housing scheme, the interest subsidy of up to Rs 2.60 lakh on home loans will now be available to middle income group (MIG) beneficiaries for 15 more months till March 2019. By this decision MIG beneficiaries will get more time to avail interest subsidy under the Pradhan Mantri Awas Yojana (Urban). Under CLSS, MIG beneficiaries with annual income of above Rs 6 lakh and up to Rs 12 lakh would get an interest subsidy of 4% on a 20-year loan component of Rs 9 lakh. Those with annual income exceeding Rs 12 lakh and up to Rs 18 lakh would get interest subsidy of 3%.