Now own bigger home under PM Awas Yojana, Modi govt changes rules

Neighbourhood News Desk: Here is a good news for home buyers in cities. Changes have been made in the Narendra Modi government’s affordable housing scheme Pradhan Mantri Awas Yojana-Urban (PMAY-U). The government has approved a 33-percent increase in carpet area of houses eligible for interest subsidy under its affordable housing scheme Pradhan Mantri Awas Yojana-Urban (PMAY-U) to attract more beneficiaries.

The increase in the carpet area of a house under PMAY-U has been effected across all middle income group categories. For Middle Income Group-I (MIG-I), the carpet area has been increased from 120 sq m to 160 sq m. It has been increased from 150 sq m to 200 sq m in the case of MIG -II. According to HUA ministry, an amount of Rs 736 crore had been disbursed to 35,204 beneficiaries belonging to the MIG category as of June 11. The decision to increase the carpet area for MIG section was done after inputs from various stakeholders.

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