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Updates found with 'finance scheme offer'

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Updates found with 'finance scheme offer'

Scope1.1 “Pradhan Mantri Awas Yojana (Urban) – Housing for All” Mission for urban areasis being implemented with effect from 17.06.2015 to provide central assistance toimplementing agencies through States and UTs for providing houses to all eligiblefamilies/ beneficiaries. As a Central Sector Scheme, the existing Credit Linked SubsidyScheme (CLSS) component of the Mission provides interest subsidy on home loanstaken by eligible urban poor [Economically Weaker Section (EWS) / Lower IncomeGroup (LIG)] for acquisition/construction of house.1.2 Given the projected growth of urbanization in India and the consequent housingdemands, Ministry of Housing and Urban Poverty Alleviation hereby introduces aninterest subsidy scheme for acquisition/ construction of house (including re-purchase)to cater to the Middle Income Group (MIG) called “Credit Linked Subsidy Scheme(CLSS) for MIG”, which will also be implemented as a Central Sector Scheme.1.3 The existing Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana (Urban)Mission has, accordingly, been renamed as “CLSS for EWS/LIG”.1.4 To be eligible to receive central assistance under CLSS for MIG:1.4.1 The beneficiary family should not own a pucca1 house either in his/her nameor in the name of any member of his/her family in any part of India.1.4.2 A beneficiary family should not have availed of central assistance under anyhousing scheme from Government of India.1.5 A beneficiary family will comprise husband, wife, unmarried sons and/or unmarrieddaughters. An adult earning member (irrespective of marital status) can be treated asa separate household;Provided that he / she does not own a pucca1 house in his / her name in anypart of India.Provided also that in the case of a married couple, either of the spouses orboth together in joint ownership will be eligible for a single house, subject toincome eligibility of the household under the Scheme.1.6 CLSS for MIG will be implemented initially in 2017 for a period of one year w.e.f1.01.2017.
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Definitionsforthe purposes of the SchemeBeneficiary A beneficiary family will comprise of husband, wife, unmarriedsons and/or unmarried daughters. An adult earning member(irrespective of marital status) can be treated as a separatehousehold;Provided that he / she does not own a pucca (an all weatherdwelling unit) house in his / her name in any part of India.Provided also that in the case of a married couple, either of thespouses or both together in joint ownership will be eligible fora single house, subject to income eligibility of the householdunder the Scheme.Carpet Area Area enclosed within the walls, actual area to lay the carpet. This areadoes not include the thickness of the inner walls.Central Nodal Agencies Nodal Agencies identified by Ministry for the purposes ofimplementation of Credit Linked Subsidy Scheme for Middle IncomeGroup.Middle Income Group(MIG) - I:MIG - I households are defined as households having an annual incomebetween Rs.6, 00, 001 (Rupees Six Lakh One) up to Rs.12, 00, 000(Rupees Twelve Lakh).Middle Income Group(MIG) - II:MIG - II households are defined as households having an annual incomebetween Rs.12, 00, 001 (Rupees Twelve Lakh One) up to Rs.18, 00, 000(Rupees Eighteen Lakh).Primary LendingInstitutions (PLIs)Scheduled Commercial Banks, Housing Finance Companies, RegionalRural Banks (RRBs), State Cooperative Banks, Urban Cooperative Banks, Small Finance Banks, Non Banking Financial Company – Micro FinanceInstitutions (NBFC-MFIs) or any other institutions as may be identifiedby the Ministry.1Credit Linked Subsidy Scheme for MIG – Operational Guidelines
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Pradhan Mantri Awas Yojana- Housing for All (Urban)At the slum decadal growth rate of 34%, the slum households are projected to go upto 18 million. 2 million non-slum urban poor households are proposed to be covered under the Mission. Hence, total housing shortage envisaged to be addressed through the new mission is 20 million.The Mission is being implemented during 2015-2022 and provides central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for:In-situ Rehabilitation of existing slum dwellers using land as a resource through private participationCredit Linked SubsidyAffordable Housing in PartnershipSubsidy for beneficiary-led individual house construction/enhancement.Credit linked subsidy component is being implemented as a Central Sector Scheme while other three components as Centrally Sponsored Scheme (CSS).All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.In the spirit of cooperative federalism, mission provides flexibility to the States for choosing the best options amongst four verticals of mission to meet the demand of housing in their states. Process of project formulation and approval in accordance with the mission Guidelines has been left to the States so that projects can be formulated, approved and implemented fasterA Technology Sub-Mission under the Mission has been set up to facilitate adoption of modern, innovative and green technologies and building material for faster and quality construction of houses. Technology Sub-Mission also facilitates preparation and adoption of layout designs and building plans suitable for various geo-climatic zones. It will also assist States/Cities in deploying disaster resistant and environment friendly technologies.
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