- In-situ slum redevelopment by using land as resource.
- Promoting affordable housing through central housing schemes in partnerships with State/ UT.
- Promoting affordable housing for weaker section through credit linked subsidy scheme; and
- Beneficiary led construction with central assistance.
CLSS Scheme type | EWS and LIG | MIG 1 | MIG 2 |
Eligibility Annual Household Income | Up to 6 lakhs | Rs. 6-12 lakh | Rs. 12–18 lakh |
Carpet Area – Max (sqm) | 60 sqm | 120 sqm | 150 sqm |
Interest Subsidy | 6.50% | 4.00% | 3.00% |
Max loan | Rs. 6 lakh | Rs. 9 lakh | Rs. 12 lakh |
Loan Purpose | purchase/self-construction/extension | purchase/self-construction | purchase/self-construction |
Validity of Scheme | 31.03.22 | 31.03.19 | 31.03.19 |
Maximum Subsidy | Rs. 2.67 lakh | Rs. 2.35 lakh | Rs. 2.30 lakh |
Woman Ownership | Mandatory | Not Mandatory | Not Mandatory |
- Raising the prescribed period for completion of the project from three to five years
- Substituting the size prescribed with reference to built-up area by the carpet area
- Increasing the prescribed size of units in areas peripheral to the Metros from 30 to 60 sq. m.
- Reducing the holding period of three years to two years for categorization of the property as ‘long-term assets’ which will encourage liquidity
- Providing for indexation from 01.04.2001 in place of existing 01.04.1981 which will mean exemption of gains as a result of accretion in value up to April 2001 ]
- Making gains arising from redevelopment arrangements taxable in the year of completion of the project
- Exempting taxation of notional income under the head income from property in respect of unsold units for a period of one year.