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
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