Housing for All” Mission for urban will be implemented during 2015-2022 & will produce central help to implementing agencies. The Credit linked subsidy scheme is being offered under this mission.
For Middle income Group (MIG), the interest subsidy will be provided on housing loans for acquisition/construction of homes (including repurchase).
For Economically Weaker Section (EWS)/Lower income Group (LIG), the interest subsidy is provided on housing loans for acquisition, construction of house. The Credit linked subsidy would also be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as progressive housing.
The interest subsidy profit is upfront on the principal outstanding.
The availability and amount of interest subsidy is subject to meeting income criteria as per numerous categories under the scheme.
Beneficiary
A beneficiary family can comprise of husband, wife, unmated sons and/or unmated daughters.
An adult earning member (irrespective of matrimonial status) is treated as a separate home