New Delhi : The government on Tuesday hiked the cap on carpet area for houses eligible for interest subsidy for the middle income group under its affordable housing scheme.
With an aim to include more housing projects under Pradhan Mantri Awas Yojana (Urban), the limit on carpet area has been hiked to 160 sq mtr in ‘MIG-I’ or middle income-I category from 120 sq mtr.
For ‘MIG-II’ category, the limit has been hiked to 200 sq mtr from 150 sq mtr. The decision to increase the cap for carpet area was taken based on the inputs from various stakeholders, the government said.
“Apart from increasing the number of beneficiaries, the increase in carpet area will improve the construction activity and will assist in moving the housing sector forward,” it said.
This is the second increase in the cap for carpet area for middle income groups under government’s affordable housing scheme.