After launching EPF/EPFO Housing Scheme, the Empoyees Provident Fund Organisation (EPFO) has set a target of constructing 10 homes for subscribers. For implementing the scheme, EPFO has tied with the urban development ministry for construction. EPFO housing scheme will also give a push to central’s urban housing mission, Pradhan Mantri Awas Yojana to achieve the target of housing for all by 2022.
EPFO Housing Scheme
A home would be provided to EPFO subscribers in a phased manner and these houses would be developed by EPFO with the help of urban development ministry. A target of constructing 10 lakh houses has been decided under the scheme. A meeting is being planned between EPFO and the urban development ministry for providing subsidy to EWS Subscribers under the PMAY CLSS components
An interest subsidy under central government’s PM Awas Yojana – Credit Linked Subsidy Scheme would be provided to EPFO subscribers belonging to MIG (Middle Income Group) and LIG (Low Income Group) categories.
As per the provisions of PMAY-CLSS home loan scheme, an interest subsidy of 3% would be provided to MIG subscribers on the home loan amount of upto Rs. 18 Lakh while the LIG subscribers would be able to get 4% interest subsidy on the loan amount between Rs. 6 lakh to 12 Lakh.