Govt redefines income criteria for housing

The urban development and housing department has amended the income criteria for allotment for housing. The amendments adjust for rising inflation and raise the annual income criteria for economically weaker sections (EWS) to annual household income of Rs 1.5 lakh while added another criteria for the higher income group.

The HIG, that previously included all above Rs 6 lakh annual income, will now have two categories.  HIG A with an annual income of Rs 6-8 lakh and HIG B for those above Rs 8 lakh annual income. The HIG B group will be entitled to land plots of 220 square meter and above but will have to pay 120 per cent of the reserve price. The HIG A will be able to apply for plots of 91 square meter to 220 square meter size and will have to pay 110 per cent of the reserve price.

The Middle-income group though continues to be divided into two sections, the minimum income scale has been lowered. The MIG A will have those of income between Rs 2-4 lakh and MIG B with an annual income of Rs 4-6 lakh. Most applicants are thus expected to now come under the MIG group. 

Among these was A category gets a relaxation of 10 per cent on reserve price, B is entitled to land on its reserve price.