CLSS extension to boost affordable housing



The one year extension to CLSS till March 2021 granted by the central government will help boost affordable housing.

As per Centre’s policy decision, the CLSS has been extended for middle income groups with annual income of Rs 6-18 lakh.The scheme will benefit at least 2.5 lakh middle- income families. Already, over 3.3 lakh families have got benefited from this landmark scheme. According to Finance Ministry, Out of total 15.6 lakh under construction units across 7 top cities, about 6.4 lakh units will get benefited.This extension to CLSS , according to Finance Ministry, will give a Rs 70000 crore boost to the housing sector.

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham – National Council on Real estate, Housing & Urban Development, “This will be a big sentiment booster for buyers of affordable housing.The triple benefit of credit linked subsidy, range bound prices and low interest rates will boost the sentiment of home buyers. This in turn will boost the demand of affordable housing.Further, the boost to affordable housing will positively impact allied sector including cement and steel”.

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