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PMAY Scheme

Additional income tax deduction announced on home loans for affordable houses

The first budget of the second term of the Narendra Modi-led government on Friday extended an additional deduction to home-buyers in the affordable housing category. In her maiden budget speech, finance minister Nirmala Sitharaman said an additional deduction of up to ₹1.5 lakh for interest paid will be allowed on a loan borrowed up to 31st March, 2020, for purchase…

How To Save Rs. 2.6 Lakh On Your Home Loan under PMAY Scheme

Pradhan Mantri Awas Yojana Subsidy: How To Save Rs. 2.6 Lakh On Your Home Loan The central government recently announced that the benefit of interest subsidy of about Rs. 2.60 lakh on home loans under Pradhan Mantri (PM) Awas Yojana (Urban) for middle income groups (MIG) has been extended by 15 months. After the extension, the benefit of Rs. 2.6 lakh…

Pradhan Mantri Awas Yojana (PMAY) – Credit Linked Subsidy Scheme ( CLSS)

Pradhan Mantri Awas Yojana (PMAY) – Credit Linked Subsidy Scheme ( CLSS) Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has introduced in June 2015, an interest subsidy scheme called Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN)-Housing for All, for purchase/construction/extension/improvement of house to cater Economical Weaker Section(EWS)/Lower Income Group(LIG)/Middle Income…

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