Knowledge Centre
Delhi

PMAY latest amendments

 

 

Centre cuts GST rate on homes linked with CLSS under PMAY

 

The Central Government slashed the Goods and Services Tax (GST) rate from 12 percent to 8 percent for affordable homes coupled with the credit-linked subsidy scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY). The GST rate cut will be offered to first-time homebuyers only with a family income of up to Rs 18 lakh per annum for buying a house of up to 150 sq m (1,615 sq ft) carpet area under the subsidy scheme. However, homebuyers who do not qualify for CLSS will have to pay GST at 12 percent.

 

The GST rebate will also be given to low-cost housing projects tagged with infrastructure status where the maximum carpet area of the house is 646 sq ft. The first-home buyer condition is not applicable here. Read more…

 

Housing Ministry extends CLSS scheme under PMAY

 

The Housing Ministry has widened the coverage of interest subsidy under PMAY by including areas falling within notified planning or development area under the jurisdiction of an industrial development authority/special area development authority/urban development authority or any such body under state legislation that is charged with the responsibilities of urban planning and regulations. The amended guidelines would help new homeowners to save up to Rs 2.3 lakh who are willing to purchase a property in such areas.

 

Homebuyers interested in buying properties falling within the limits of the port development authorities of urban areas in the coastal locations will now be able to avail the interest subsidy scheme under PMAY. Read more…

 

House must be in the name of a female member under PMAY: Govt

 

The Central Government has mandated the ownership of a house in the name of the female member of the family under PMAY. Read more…

 

Govt revises carpet area of MIG flats under PMAY

 

The Central Government has amended the carpet area for houses catering to the middle-income group (MIG) under PMAY. Post revision, the carpet area in the MIG-I category has been increased from the existing 90 sq m to up to 120 sq m. Similarly, the carpet area of MIG-II category has been revised from the existing 110 sq m to up to 150 sq m. Read more…

 

Centre extends interest subsidy scheme (CLSS) on home loans till March 2021

 

The validity of interest subsidy benefit for beneficiaries belonging to Middle Income Groups (MIG) has been extended until March 2021. The Government has announced a corpus of Rs 70,000 crore for the scheme. Read more…

 

 

 

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    Comments

  • BABALU PRASHAD, May 31, 2020 | 10:23 pm

    Garm Sivapuar sihawal jigana BALAK vejaypuar post JIGNA MIRZAPUAR up 63

    Reply view all reply

    • Anirudh Singh Chauhan, June 9, 2020 | 2:57 pm

      Hi Babalu, Please elaborate your query so that we can help you better.Thanks

      Reply

  • MANJIT SINGH, May 5, 2020 | 11:20 am

    WANT TO KNOW ABOUT MY HOME LOAN SUBCIDY

    Reply view all reply

    • Anirudh Singh Chauhan, June 2, 2020 | 5:34 pm

      Hi Manjit, to know about the status of the home loan subsidy, you must contact the concerned bank from where you had applied for the home loan. If you have the application id, you can check the status at https://pmaymis.gov.in/. Thanks

      Reply

  • Sateesh Kantamani, April 2, 2020 | 11:31 pm

    HI
    HOW CAN I KNOW PMAY STATUS…….

    Reply view all reply

    • Shephali Kapoor, April 21, 2020 | 4:29 pm

      To know your PMAY status, log on to http://www.pmaymis.gov.in. Click on Citizen Assessment at the top and then select track your assessment.

      Reply

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