New Delhi: The Centre today 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 .
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 urban shortage of houses is pegged at over 10
million.
