, , , , , , , , ,

CLSS or Credit Link Subsidy Scheme was launched by the Ministry of Housing and Urban Development under the Housing for All 2022 Scheme, on 22nd March 2017, for the Middle Income Group, to provide them with subsidy wherein the equated monthly instalments of the homebuyers would be brought down on housing loans availed by the buyers in urban areas.  Now in a bid to further simplify the process, the government has now approved increasing the carpet area in the MIG I category of CLSS from the existing 90 square metre to up to 120 square metre and increasing the carpet area in respect of MIG II category of CLSS from the existing 110 square metre to up to 150 square metre.  These changes are effective from 1st January 2017. The government expects the increase in carpet area to enable the middle income category of individuals to have a wider choice in developers’ projects.  The Government also stated that the increased carpet area would also give a boost to the sale of ready built flats in the affordable housing segment.  Carpet area is the area enclosed within the walls, and is the actual area to lay the carpet. This area does not include the thickness of the inner walls. It is the actual used area of an apartment.  Would this have more takers?