Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has introduced an interest subsidy scheme for acquisition/construction of houses (including re-purchase) to cater to the Middle Income Group (MIG) called 'Credit Linked Subsidy Scheme (CLSS) for MIG' given the projected growth of urbanization in India and the consequent housing demands. This will also be implemented as a Central Sector Scheme. The existing CLSS scheme under Pradhan Mantri Awas Yojana (Urban) - Housing for All Mission has been renamed as 'CLSS for EWS/LIG'.
Key Highlights of the Scheme
All Statutory Towns as per Census 2011 and towns notified subsequently, including planning area as notified with respect to statutory town.
Interest subsidy on housing loan for acquisition/construction of houses (including re-purchase).
Beneficiary family will comprise husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household.
Beneficiaries of MIG will be eligible for an interest subsidy with following features :