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16 November 2017
 |
Pradhan Mantri Awas Yojana (The Total Investment & Insurance
Solutions)
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). The
Total Investment & Insurance Solutions
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.
The Total Investment & Insurance Solutions
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. The
Total Investment & Insurance Solutions
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.The Total Investment &
Insurance Solutions
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