Hyderabad: The Centre has launched a credit-linked subsidy scheme to provide housing for urban middle income group families, for this year.
According to the guidelines sent by to the state government, the scheme provides for MIG-I and II housing. Those seeking loans to buy, build or re-purchase a house from banks, housing finance companies and other notified institutions will be eligible for interest subsidy.
For MIG-I housing, the Centre has set an income limit of Rs 12 lakh a year and for MIG-II, Rs 18 lakh. Beneficiaries will get 4 per cent interest subsidy in the MIG-I and 3 per cent in MIG-II. The maximum loan tenure is 20 years.
It will support acquisition or construction of a house of 90 square metres and 110 square meters carpet area as per income eligibility.
Preference will be given to women with overriding preference to widows, single working women, persons belonging to SC, ST and OBC communities, transgenders and those with disabilities.