New Income Ceilings For Poor To Better Dispersal Of Housing Loans


By akansha, Section Noida Real Estate Property
Posted on Tue Mar 16, 2010 at 02:47:14 AM EST

The government has decided to revise the income ceilings for the economically weaker section (EWS) and lower income group (LIG) for purpose of determining beneficiaries of housing loans.

The income ceilings of EWS and LIG are presently defined at Rs 3,300 per month per household and Rs 3,301-7,300 per month per household had been fixed on 2006 prices. These have now been revised to Rs 5,000 per month for EWS and Rs 5,001 to Rs 10,000 per month for LIG based on 2006 prices, the ministry of housing and poverty alleviation said today.

The move had been reported by The Indian Express three weeks ago. In order to account for the rise in per capita income, inflation and construction costs, the proposal to revise the income ceiling has been under consideration of this ministry.

“The revised income ceilings shall be applicable for definition of beneficiaries under government schemes for housing, including Interest Subsidy for Housing the Urban Poor Scheme (ISHUP), Basic Services for Urban Poor (BSUP)/ Integrated Housing & Slum Development Programme (IHSDP),” the housing ministry said.

The existing upper ceiling of Rs 3,300 per month for EWS and Rs 7,300 per month for LIG will continue to form the basis for calculation of affordability and subsidy.

Source: The Indian Express New income ceilings for poor to better dispersal of housing loans

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