Tuesday, 11 February 2020

Credit Linked Subsidy Scheme | Concession in Home Loan Interest Rates

Concession in Home Loan Interest Rates under Credit Linked Subsidy Scheme

concession-in-home-loan-interest-rates

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?

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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.
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Annexure – I

Annexure for Lok SabhaUnstarred Question No 919 for 06.02.2020


S.No.ParticularsEWS/LIGMIG-IMIG-II
1.
Household Income (Rs. Per Annum)
Up to.3,00,000/- for EWS and between 3,00,001 to
6,00,000 for LIG
Between 600,001 up
to 12,00,000
Between 12,00,001 up
to 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 160Up 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.)2,67,2802,35,0002,30,000

*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

Eng. http://164.100.24.220/loksabhaquestions/annex/173/AU919.pdf

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