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Article  Pradhan Mantri Awas Yojna: Carpet Area Hike To Push Home Sales In Smaller Cities
India | Asia | by: joquim108 | 120 d 11h 35m | General News |share| report
MUMBAI: The government"s move to hike the carpet area of homes eligible for interest subsidy under the Pradhan Mantri Awas Yojna (PMAY) for the middle-income group (MIG) will give a much needed push to home sales, especially in tier II and III cities, say experts. 

The ministry of housing and urban affairs yesterday increased the carpet area of houses eligible for benefits under PMAY"s credit linked subsidy scheme (CLSS) to 160 square meter (sqmt) for MIG-I and 200 sqmt for MIG-II. 

The carpet areas were earlier fixed at 120 sqmt for MIG-I and 150 sq meter for MIG-II. 

Echoing similar views, Spenta Corporation managing director Farshid Cooper opined the move will incentivise more people in tier II and III towns to purchase larger homes, while still being able avail of the interest benefits available under PMAY. 

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