comment by Mr. Kaushal Agarwal – Chairman, The Guardians Real Estate Advisory on extension of deadline for CLSS scheme

New Delhi, May 16, 2020: The CLSS or Credit Linked Subsidy Scheme has been extended for the MIG 1 & MIG 2 category by another year, as part of the government’s relief package of Atmanirbhar Bharat. The scheme was rolled out to benefit the affordable housing industry and prospective homebuyers with income between 6 to 18 lakhs. While the government’s expectation of 2.5 lakh families enrolling for the scheme within a year, seems slightly ambitious, the extension by a year was much required and is bound to safeguard against possible demand disruption after the lockdown. The affordable housing segment that thrives on large footfalls and extensive distribution of the product is expected to suffer as a result of expected guidelines against large gatherings and social distancing.

Corporate Comm India (CCI Newswire)