New Delhi: 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). 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.
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.
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.
PTI
Carpet Area Of Houses Under PM Awas Yojana Increased
