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In a recent development, the central government has decided to extend the Credit Link Subsidy Scheme (CLSS) on home loans for the Middle Income Group under their ambitious Pradhan Mantri Awas Yojana (Urban) scheme till March 2020. The information on the above has been provided by Housing and Urban Affairs Minister Hardeep Singh Puri.

Elaborating on the above information, Hardeep Singh Puri confirmed that the government has decided to extend the CLSS under which they provide a subsidy of up to Rs 2.67 lakh on home loans to the registered beneficiaries.

He further said, “I have just signed a file on the CLSS scheme which we have extended for one year up to March 31, 2020. The last extension was up to March 31, 2019. Till December, around 3, 39,713 beneficiaries have availed the benefits of CLSS under PMAY (Urban).

As per the earlier orders, the benefits on the CLSS have been launched for 12 months only i.e. till December 31, 2017. But with increasing popularity among the stakeholder and Middle-income homebuyers, the govt decided to extend the scheme till March 31, 2019. Under the scheme, the beneficiaries can easily avail home loans on buying or construction of houses.

The Credit Link Subsidy Scheme allows homebuyers with an annual income of above Rs 6 lakh and up to Rs 12 lakh to avail an interest subsidy of 4% on a 20-year loan of Rs 9 lakh. On the other hand, beneficiaries with more than 12 lakh annual income or up to 18 lakh can avail an interest subsidy of 3%.