Central govt increases carpet areas of MIG houses under PMAY

The BJP-led Central government on Thursday has approved to enhance the carpet area of housed for the middle income (MIG) category under the Pradhan Mantri Awas Yojana Urban (PMAY-U).

Union Minister Ravi Shankar Prasad said, “The government under the MIG-I category has enhanced the carpet area of the houses from from 90 sq.mtr to 120 sq.mtr. While, under the MIG-II segment the area has been increased to 150 sq.mtr from current 110 sq.mtr.”

The union minister informed the reporter that the increase in in the carpet area in  MIG segment houses was decided in Union Cabinet meeting.

He added that in the MIG-I category a four per cent interest subsidy is provided to the beneficiaries having an annual income of Rs 6-12 lakh on a loan up to Rs 9 lakh. While, under MIG-II category beneficiaries having annual income of Rs 12-18 lakh annual income get three per cent subsidy on a loan of up to Rs 12 lakh.

Union Minister Hardeep Singh Puri said, “The development will attract more people in the MIG category to buy houses under the scheme.”

According to officials, many people were not opting to buy houses under the scheme as the previous carpet area did not seem attractive. “We hope now many people would come forward to avail the benefits.”

National Real Estate Development Council (NAREDCO) chairman Rajeev Talwar and president Niranjan Hiranandani said, “The decision would help meet the aspiration of millions of home buyers in the MIG category.”