News Economy News

Carpet Area of Houses Eligible for Subsidy Under CLSS for MIG Increased to 160 Sq.MFor MIG -I and 200 Sq.M for MIG-II
13-Jun-18   10:14 Hrs IST
In a major decision to boost Affordable housing, the Ministry of Housing & Urban Affairs, has approved the revision of the carpet area of houses eligible for interest subsidy under the Credit Linked Subsidy Scheme (CLSS) for the Middle-Income Group (MIG) under Pradhan Mantri Awas Yojana (Urban) in respect of MIG I from up to 120 square metre to be increased to up to 160 square metre and, in respect of MIG II from up to 150 square metre to up to 200 square metre.

Sn.NoParticularsCLSS for MIG

Household Income (Rs. p.a.)

From 6,00,001 up to 12,00,000From 12,00,001 up to 18,00,000

Interest Subsidy (% p.a.)


Maximum Loan Tenure


Eligible Housing Loan Amount for Interest for Interest Subsidy (Rs)


Dwelling Unit Carpet Area (up to)**

160 sq.m.200 sq.m.

Discounted Rate for Net Present Value (NPV) calculation for interest subsidy


Upfront Amount for Subsidy (Rs.)


CLSS - MIG Scheme Details post this Revision:

*Subsidy will be restricted to this loan amount and Loan quantum beyond this limit will be at non-subsidised rates.

**with effect from 01.01.2017 i.e from the date when the scheme became operational.


  • The decision is another big step to boost the construction sector that contributes to increased activity on the supply side. This initiative is expected to result in enhanced economic activity that would contribute to improvement in the demand side.
  • These enhancements will now enable more MIG customers to qualify for subsidy and avail the benefits provided under the ambitious flagship Mission of Pradhan Mantri Awas Yojana (Urban).
  • Apart from increasing the number of beneficiaries, the increase in carpet area will improve the construction activity and will assist in moving the housing sector forward.
  • This also augurs well with the Reserve Bank of India policy to revise the housing loan limits for Priority Sector lending (PSL) eligibility where it has been decided to revise the housing loan limits for PSL eligibility from existing ₹28 lakh to ₹35 lakh in metropolitan centres (with population of ten lakh and above), and from existing ₹20 lakh to ₹25 lakh in other centres, provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed ₹45 lakh and ₹30 lakh, respectively.
  • The increased construction activity in housing sector has a cascading effect on core sectors like cement, steel, machinery and other allied sectors. More construction activity in the urban areas would result in creation of more jobs for both skilled and unskilled workers.
  • Overall this will be a big boost to the economy.

            Pursuant to the address to the Nation on 31.12.2016 by Hon'ble Prime Minister, the scope of the CLSS had been expanded to MIG category with the approval of the Cabinet on 01.02.2017. The scheme approved, initially, for implementation for the year 2017 has been extended up to 31.03.2019. The CLSS for MIG scheme has gained momentum in the last couple of quarters and the offtake has picked up significantly. As on 11.06.2018, an amount of Rs.736.79 crore has been disbursed to 35,204 beneficiaries belonging to the MIG category.

CLSS Performance as on 11.06.2018:

  • Beneficiaries
  • Subsidy released
  • 133,213
  • Rs. 2890.50 crore
  • Beneficiaries
  • Subsidy released
  • 35,204
  • Rs. 736.79 crore
CLSS - Total
  • Beneficiaries
  • Subsidy released
  • 168,417
  • Rs. 3627.29 crore

The MIG segment is an aspirational class which is upwardly mobile. The role of the hardworking citizens belonging to the MIG segment who play a significant role in the economy of the country has been acknowledged by the government time and again. The intent of the CLSS for MIG is to support the dream of every family in owning a house.

The decision to increase the carpet area for MIG section was done after inputs from various stakeholders. One of key issues was denial of CLSS benefit to potential beneficiaries, because they were buying flats/houses, constructing houses, where the carpet area exceeded the cap of either 120 square metre or 150 square metre, thus rendering them ineligible for the interest subsidy under MIG.

During workshops and review meetings by the Central Nodal Agencies (CNAs) - Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) - with the PLIs, there had been requests for increasing the carpet areas specified for the MIG I and MIG II categories.

Powered by Capital Market - Live News

Attention Investors:
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day.........issued in the interest of investors.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Disclosure of Proprietary Account Trading by Members to Clients
Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades.
Copyright © 2016 All rights Reserved GOODWILL
Designed, Developed and content powered by CMOTS Infotech ( ISO 9001:2015 certified )
Filing complaints on SEBI Complaint Redress System (SCORES)
– Easy & quick
  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, E-mail ID.
  • Benefits:
    • Effective communication
    • Speedy redressal of the grievances.
You can file complaints on SCORES through