Govt launches New Home Loan Interest Subsidy Scheme, Check who are eligible for this scheme?

Prime Minister Narendra Modi announced a new home loan interest subsidy scheme for low and middle-income groups during his Independence Day speech last year. According to Hardeep Singh Puri, the Union Minister of Housing and Urban Affairs, the scheme is in its final stages of preparation.
Background: Replacement of CLSS
The upcoming scheme is set to replace the Credit Linked Subsidy Scheme (CLSS), a sub-scheme of PMAY(U) that was discontinued in March 2021 for the middle-income group. The CLSS sub-scheme had a significant impact, with 23.97 lakh houses sanctioned under its provisions.
Progress and Deliberations
Minister Puri mentioned that extensive work has gone into formulating the new scheme, with careful deliberations on its nuances. The scheme is now in the final stages, and it is expected to be presented to the cabinet for approval soon.
Urban Development Investments
Highlighting the progress in urban governance, Puri stated that Rs. 18.07 lakh crores have been invested in urban development since 2014. He praised the Pradhan Mantri Awas Yojana (Urban) or PMAY(U) scheme, citing the approval of 1.18 crore houses, a substantial increase compared to previous urban housing initiatives.
Prime Minister’s Vision
In his Independence Day address, Prime Minister Modi expressed the government’s commitment to assist low-income families living in cities, rented houses, slums, chawls, and unauthorized colonies. The proposed scheme aims to provide relief in interest rates and bank loans, enabling these families to build their own houses and save significant amounts.
Middle-Class Benefits
Additionally, Prime Minister Modi highlighted the potential benefit of raising the income tax bracket for middle-class families from ₹2 lakh to ₹7 lakh. This adjustment, he stated, would particularly benefit the salaried and middle-class individuals.
The overall aim of these initiatives is to promote affordable housing, empower low and middle-income groups, and enhance urban development in India.
When will this scheme become active? I want to buy a house, the owner of that house wants my confirmation by Sunday 4/2/2024, he can’t delay more than April. Please reply asap this will be very helpful. As there’s not much clarity on this.