Pradhan Mantri Awas Yojana Current Affairs - 2020

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CLAP: Credit-linked Subsidy Services Awas Portal launched by governmnet

Union Minister of Housing and Urban Affairs Hardeep Singh Puri launched the Credit Link Subsidy Scheme (CLSS) Awas Portal (CLAP). Along with portal, the Union Ministry of Housing and Urban Affairs (MHUA) also launched Global Housing Technology Challenge (GHTC)-India to accomplish ‘Housing For All Mission’. MHUA also signed agreements with certain state governments for the construction of LightHouse projects under GHTC-India. GHTC-India seeks to get globally acclaimed, proven and alternate construction technologies for speedier as well as cost-effective construction of affordable housing.

About CLSS Awas Portal (CLAP)

The CLAP aims to provide a transparent and robust real-time web-based monitoring system for the beneficiaries of the Credit-linked Subsidy Services (CLSS) as through the portal people seeking to avail housing subsidy under Pradhan Mantri Awas Yojna (PMAY)-Urban will be able to track their applications.

The CLSS Awas Portal also seeks to address grievances of beneficiaries in a much comprehensive and organised manner as well as to help other stakeholders to work in synergy for release of subsidy to beneficiaries on time. Under CLSS, the Centre provides interest subsidy of up to around Rs.2.67 lakh on home loans to individuals, which reduces principal outstanding amount of loan.

Pradhan Mantri Awas Yojana (Urban)

PMAY-Urban aims to address the housing needs of Urban population of country. The Credit-linked Subsidy Services (CLSS) covers the MIG (middle income group) segment for first time. The mission is expected to benefit young professionals having an income of up to Rs.18 lakh/annum.  At present, among the 4 verticals of PMAY(Urban), the government has managed to reach more than 8 lakh beneficiaries under CLSS.

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Loan subsidy for middle-income group under PMAY extended till March 2020

The Minister for Housing and Urban Affairs Hardeep Singh Puri has said that the loan subsidy for the middle-income group under Pradhan Mantri Awas Yojana, (PMAY) has been extended till 31st March 2020.

The Minister said that more than Rs 6900 cr interest subsidy on housing loans has been disbursed to over 3.14 lakh beneficiaries of Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (Urban).

Credit Linked Subsidy under PMAY-Urban

The Credit Linked Subsidy Scheme (CLSS) is a component under the PMAY-Urban. Under the scheme, the central government provides interest subsidy or purchase/construction/extension/improvement of a house to cater Economical Weaker Section(EWS)/Lower Income Group(LIG)/Middle Income Groups (MIG).

The CLSS is being implemented by two central nodal agencies in India, namely Housing Urban Development Corp and National Housing Bank. The CLSS is planned as a demand-side intervention to expand institutional credit flow to the housing needs of the urban poor.

The CLSS is the only central scheme under the PMAY-Urban and the remaining ones are implemented as sponsored schemes.

For Middle-Income group

CLSS for Middle-Income group covers two income segments in the MIG viz. Rs.6,00,001 to Rs.12,00,000 (MIG-I) and Rs.12,00,001 to Rs.18,00,000 (MIG-II) per annum.

For MIG-I, an interest subsidy of 4% has been provided for loan amounts up to Rs.9 lakh and for  MIG-II, an interest subsidy of 3% has been provided for loan amount up to Rs.12 lakh. Housing loans beyond Rs. 9 lakh and Rs. 12 lakh will be at non-subsidized rates.

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