By Accommodation Times Bureau
As affordable housing got the infrastructure status, there is a excitement amongst developers and banks for this limited-time subsidy. But there’s an underlying fear as well. With Prime Minister Narendra Modi announcing the Credit-Linked Subsidy Scheme (CLSS) for middle income groups (MIG) as well as the economically weaker section (EWS) and low-income groups (LIG), stakeholders fear that the scheme may not find many takers due to lack of awareness.The scheme, which is valid for a year under the central government’s Housing for All mission, was announced on December 31, 2016, for MIG 1 & 2.
The offer, which also aims to provide benefits to developers on construction of affordable housing units, will create an extremely positive impact on the real estate sector. “The CLSS will boost demand for affordable housing and will be a game-changer. That is why its awareness among consumers is of paramount importance. This makes it the best time to buy an affordable house in urban India,” said Amrit Abhijat, Mission Director, Pradhan Mantri Awas Yojana (PMAY) and JS (HFA)
Dr P Jaipal, Sr Executive Director, HUDCO, adds, “It is for the first time that MIG housing has found a place in the affordable segment.”