New Financial Year is all set to begin from Thursday i.e. 1st April 2021, and with the new FY, many changes are going to be implemented w.e.f. tomorrow - one such change is PMAY Subsidy for Middle Income Group (MIG) which is going to be stopped from 1st April 2021.

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Now, Middle Income Group will not get any subsidy on buying new house from 1st April 2021.

MIG category means people who have income Rs 6 lakh to Rs 18 lakh annually.

MIG category has subsidy of Rs 2.35 lakhs.

However, the subsidy of LIG and EWS category will continue till 31st March 2022.

Pradhan Mantri Awas Yojana (Urban) Mission launched on 25th June 2015 which intends to provide housing for all in urban areas by year 2022. The Mission provides Central Assistance to the implementing agencies through States/Union Territories (UTs) and Central Nodal Agencies (CNAs) for providing houses to all eligible families/ beneficiaries against the validated demand for houses for about 1.12 cr.

As per PMAY(U) guidelines, the size of a house for Economically Weaker Section (EWS) could be upto 30 sq. mt. carpet area, however States/UTs have the flexibility to enhance the size of houses in consultation and approval of the Ministry.

In continuation to this Government’s efforts towards empowerment of women from EWS and LIG unlike earlier schemes, PMAY (U) has made a mandatory provision for the female head of the family to be the owner or co-owner of the house under this Mission.