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GOVERNMENT OF INDIA
MINISTRY OF HOUSING AND URBAN AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO: 4271
ANSWERED ON:  18.07.2019
Progress of Housing for All Vision
Parbatbhai Savabhai Patel
Naranbhai Bhikhabhai Kachhadiya
Gopal Chinayya Shetty
Will the Minister of



HOUSING AND URBAN AFFAIRS be pleased to state:-


(a) whether the work under the Government’s vision of Housing for All by 2022 is going on as per targets fixed thereunder;

(b) if so, the details thereof;

(c) whether the Government has recently announced various reliefs/rebates on home loans in urban areas; and

(d) if so, the details thereof?



ANSWER
THE MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF HOUSING AND URBAN AFFAIRS

(SHRI HARDEEP SINGH PURI)


(a) & (b): Yes, Sir. In pursuance of the Government’s vision of “Housing for All” by 2022, the Ministry of Housing and Urban Affairs is implementing Pradhan Mantri Awas Yojana (Urban) [PMAY(U)] since 25.06.2015 in urban areas. States/UTs have undertaken demand survey under the Scheme for assessing actual demand of housing. The validated demand reported by States/UTs so far is around 112 lakhs. Total 83,68,861 houses have been approved under the Scheme, out of this, 48,37,466 are at different stages of construction and 26,13,799 are completed.

(c) & (d): Under Credit Linked Subsidy Scheme (CLSS) vertical of the PMAY(U), interest subsidies of 6.5 %, 4% and 3% are available on loan amounts upto Rs. 6 lakh, Rs. 9 lakh and Rs. 12 lakh for the eligible beneficiaries belonging to Economically Weaker section (EWS)/Low Income Group (LIG), Middle Income Group (MIG)-I and Middle Income Group (MIG)-II respectively seeking housing loans from Banks, Housing Finance Companies and other such institutions.

Moreover, in addition to deduction upto Rs. 2 lakh for interest paid on housing loans for self-occupied property under section 24 of Income Tax Act, the Government in Union Budget 2019-20 has proposed to insert a new sub-section [80EEA] in the Income Tax Act for additional deduction upto Rs. 1.5 lakh for interest paid on loans borrowed between 1st April, 2019 and 31st March, 2020 for purchase of house valued upto Rs. 45 lakh.

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