CONCESSION IN HOME LOAN INTEREST RATES - CLSS - PMAY(U)

CONCESSION IN HOME LOAN INTEREST RATES - CLSS -  PMAY(U)

GOVERNMENT OF INDIA
MINISTRY OF HOUSING AND URBAN AFFAIRS

LOK SABHA

UNSTARRED QUESTION NO. 919
ANSWERED ON FEBRUARY 06, 2020

CONCESSION IN HOME LOAN INTEREST RATES

DR. BHARATI PRAVIN PAWAR
SHRI SADASHIV KISAN LOKHANDE

Will the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:

(a) whether any concession in interest rates on home loans is being provided at Central level to purchase/construct houses in Maharashtra; and

(b) if so, the details thereof and the number of people benefited in this regard in Maharashtra during the last three years?

ANSWER

THE MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF HOUSING AND URBAN AFFAIRS
(SHRI HARDEEP SINGH PURI)

(a) & (b) Yes, Sir. Government is implementing a Credit Linked Subsidy Scheme (CLSS) as one of the components of Pradhan Mantri Awas Yojana (Urban) [PMAY(U)] to provide interest subsidy for housing loans to eligible beneficiaries. The main featuresof CLSS are at Annexure - I. During the last three years 1,46,638 households have availed benefits under CLSS in Maharashtra.

Annexure - I

Annexure for Lok SabhaUnstarred Question No 919 for 06.02.2020

S.No.	Particulars	EWS/LIG	MIG-I	MIG- II
1.	Household Income (Rs. Per Annum)	Up to.3,00,000/- for EWS and between 3,00,001 to6,00,000 for LIG	Between 600,001 upto 12,00,000	Between 12,00,001 upto 18,00,000
2.	Interest Subsidy (% p.a)	6.5%	4%	3%
3.	Maximum loan tenure (in years)	20	20	20
4.	Eligible Housing Loan Amount for Interest Subsidy (Rs.)	6,00,000*	9,00,000*	12,00,000*
5.	Dwelling Unit Carpet Area (Sq.mtr)	30#/60#	Up to 160	Up to 200
6.	Discount Rate for Net Present Value (NPV) calculation for interest subsidy	9%	9%	9%
7.	Upfront Amount for Subsidy (approximately in Rs.)	2,67,280	2,35,000	2,30,000

*Loans beyond this limit will be at non-subsidised rates.

The beneficiary, at his/her his discretion can build a house of larger area but interest subsidy would be limited to first Rs. 6 lakh only

Source : loksabha questions

Cumulative No of Houses sanctioned under PMAY(U) now more than 65 Lakhs

Ministry of Housing & Urban Affairs
Cumulative No of Houses sanctioned under PMAY(U) now more than 65 Lakhs

2,05,442 houses sanctioned under Pradhan Mantri Awas Yojana(Urban) in the 40th CSMC

Maharashtra gets 1,16,042 Houses, Karnataka-  31,657, Bihar-26,880, Tamil Nadu - 15,529 and Jammu & Kashmir - 15,334

28 NOV 2018

The cumulative number of houses sanctioned under PMAY(U) now is 65,04,037. The Ministry of Housing & Urban Affairs has approved the construction of another 2,05,442 more affordable houses for the benefit of urban poor under Pradhan Mantri Awas Yojana (Urban). The approval was given in the 40th meeting of the Central Sanctioning and Monitoring Committee held here today.

Maharashtra has been sanctioned 1,16,042 houses while the sanction for Karnataka is 31,657 affordable houses.  The number of houses sanctioned for Bihar is 26,880, while Tamil Nadu has been sanctioned 15,529 houses and Jammu & Kashmir 15,334 houses.

A total of 392 projects with a project cost of Rs 7,391 crore with central assistance of Rs 3,082 crore has been approved in the meeting held under the Chairmanship of Sh Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs.

The approvals under the Beneficiary led construction(BLC) vertical is 85,227 while it is 1,20,215 under Affordable Housing in Partnership (AHP)vertical.

PIB