Lok Sabha Question No. 919 (UNSTARRED), answered on 2020-02-06
Subject: Concession in Home Loan Interest Rates
Ministry: HOUSING AND URBAN AFFAIRS
Asked by: Bharti Pravin Pawar, Sadashiv Kisan Lokhande

## GOVERNMENT OF INDIA

## MINISTRY OF HOUSING AND URBAN AFFAIRS

## LOk SABHA UNSTARRED QUESTION NO. 919

## TO BE ANSWERED ON FEBRUARY 06, 2020

## CONCESSION IN HOME LOAN INTEREST RATES

No. 919. DR. BHARATI PRAVIN PAWAR: SHRI SADASHIV KISAN LOKHANDE:

Wil the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:

- (a) whether any concession in interest rates on home loans is being provided at Central level to purchaselconstruct houses in Maharashtra; and
- (b) if so, the details thereof and the number of people benefited in this
- regard in Maharashtra during the last three years?

## ANSWER

THE MINISTER OF STATE (INDEPENDENT CHARGE) OF THE

MINISTRY OF HOUSING AND URBAN AFFAIRS

(SHRI HARDEEP SINGH PURI)

- (a) & (b)Yes, Sir. Government is implementing a Credit Linked Subsidy Scheme (CLSS) as one of the components of Pradhan Mantri Awas Yojana (Urban) [PMAY(U)] to provide interest subsidy for housing loans to eligible beneficiaries. The main featuresof CLSS are at Annexure EDuring the last three years 1,46,638 households have availed benefitsunder CLSS in Maharashtra:

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## Annexure for Lok SabhaUnstarred Question No 919 for 06.02.2020

| S.No.   | Particulars                                                                | EWSILIG                                                           | MIG-I                           | MIG-II                            |
|---------|----------------------------------------------------------------------------|-------------------------------------------------------------------|---------------------------------|-----------------------------------|
| 1       | Household Income (Rs. Per Annum)                                           | Up to.3,00,000/- for EWS and between 3,00,001 to 6,00,000 for LIG | Between 600,001 up to 12,00,000 | Between 12,00,001 up to 18,00,000 |
| 2       | Interest Subsidy (% p.a)                                                   | 6.5%                                                              | 4%                              | 3%                                |
| 3       | Maximum loan tenure (in_years                                              | 20                                                                | 20                              | 20                                |
| 4       | Eligible Housing Loan Amount for Interest                                  | 6,00,000                                                          | 9,00,000*                       | 12,00,000                         |
| 5       | Dwelling Unit Carpet Area (Sq mtr)                                         | 30# 760#                                                          | Up to 160                       | Up to 200                         |
| 6       | Discount Rate for Net Present Value (NPV) calculation for interest subsidy | 9%                                                                | 9%                              | 9%                                |
|         | Upfront Amount for Subsidy (approximately                                  | 2,67,280                                                          | 2,35,000                        | 2,30,000                          |