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What is lig?

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Investment
4 2021-11-10T19:11:31+00:00
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To know what is LIG category, it's better to clear the concept of a few terms including EWS LIG, MIG and HIG. I will share with you all the terms briefly so that you can have a better understanding. While looking at schemes for flats introduced by the government such as the PMAY scheme and the MHADA Lottery scheme in Maharashtra, we focus on three kinds of flats- LIG, MIG, and HIG. In the following paragraph, I will discuss with you what is LIG MIG HIG and what is EWS LIG with respect to PMAY scheme. What is EWS and LIG? EWS stands for economically weaker sections and LIG stands for lower-income groups. The EWS represent the sections whose annual income is not more than Rs. 3 Lakh Per Annum and the LIG  category represents a section whose annual income is between Rs. 3,00,001 (Rupees Three Lakh One) up to Rs.6,00,000 (Rupees Six Lakhs). I hope you now know what is a LIG. I will also share with you the terms MIG and HIG to describe the range. MIG stands for middle-income group and it is further divided into two categories: MIG-I and MIG-II while HIG stands for the higher-income group. The middle-income group 1 represents an annual income of Rs. 6 to Rs. 12 lakh and the middle-income group 2 represents an annual income of Rs. 12 to Rs. 18 lakhs.  You can belong to the HIG section if you earn above Rs. 18 lakh per annum. What is LIG and MIG flats? Now that I have discussed the categories I will explain what is LIG and MIG flats. If you belong to the LIG group the carpet area of your apartment will not be more than 60 sq.m. While for MIG 1 the carpet area of flat ranges between 60 sq.m to 120 sq.m and for MIG 2 the carpet area is between 120 sq.m to 150 sq.m respectively. I hope you now know what is LIG category. Explore affordable flats by opting for NoBroker buyer plans. Read more: How to apply for Pradhan Mantri Awas Yojana How to check name in Pradhan Mantri Awas Yojana How To Apply PMAY For Existing Home Loan? How To Apply PMAY Housing Scheme?
5 2022-06-20T10:59:22+00:00
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Hi, LIG full form is Low Income Group. I am a Financial Advisor and I help my clients understand the pros and cons of various housing schemes. I have many clients who want to understand about EWS house size and LIG homes. Not many people are well aware of the different housing schemes for LIG. So, I am going to help you understand everything about LIG income group house schemes. Get help in understanding the housing schemes for LIG income group through the legal experts of NoBroker.

EWS house size and LIG homes

People who belong to a household with an annual gross income of Rs 3 lakh to Rs 6 lakh are included. A single apartment in a multi-story structure or a unit of 60 square metres falls under the LIG housing category, which is targeted at people in this income bracket. Basic amenities such as toilets, power, and water are included in these flats.

Eligibility criteria of LIG, MIG and HIG

To use the services provided under this category, you must meet the following requirements. For LIG flats, the Indian government offers a rebate on home loan interest rates. A subsidy was also granted to the MIG group prior to 2021, however that decision was rescinded. The subsidy is offered as part of the Pradhan Mantri Awas Yojana.
Particulars LIG
Annual income of the household Rs 3- Rs 6 lakh
Carpet area 90 square metre
Subsidy 6.50%
Loan eligibility 20 years
Amenities Basic- roads, running water and electricity

Schemes under LIG

In India, numerous housing plans are in place to ensure that housing is available to everyone. Here's a rundown of some LIG strategies.
Scheme Name Category
Pradhan Mantri Awas Yojana LIG
Maharashtra Housing and Area Development Authority Scheme (MHADA) LIG, MIG and HIG
Delhi Development Authority (DDA) Housing Scheme LIG, MIG and HIG
West Bengal Housing Board Scheme LIG, MIG and HIG
Rajiv Awas Yoajan LIG
Tamil Nadu Housing Board Scheme LIG, MIG and HIG
I hope now you know about LIG full form and much more useful information. Read More: What is an Affordable Housing Scheme? How to Apply in MHADA Housing Scheme 2021?
0 2023-06-30T12:55:43+00:00
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While I was looking into cheap housing choices, I got acquainted with the word "LIG" and its importance in the real estate market. Let me share my understanding of the LIG meaning and what LIG stands for.

LIG meaning:

LIG, or Low Income Group covers people who are part of a household with an annual gross income between Rs 3 lakh and Rs 6 lakh. The LIG housing category targets people in this income group comprising a LIG site size similar to a single unit in a multi-storied building or a unit of 60 square meters of LIG house area. Basic amenities including restrooms, electricity, and water supply are included in these flats. Many people wonder, about the difference between the LIG and EWS category, let me share the basic difference between them;
Points of differences between LIG and EWS category LIG EWS
Full form Low Income Group Economically Weaker Section
Income group It covers people who are part of a household with an annual gross income between Rs 3 lakh and Rs 6 lakh. It includes households whose annual income is up to Rs 3 lakh.
House area LIG site size of 60 square meters An EWS flats carpet area is up to 30 sq meters with basic amenities like electricity and water supply.
So after understanding the EWS, and LIG meaning, if you think that you fulfil the eligibility criteria of any of these schemes, then you can avail of the benefits and own a house. Get all legal documents verified by the experts at NoBroker legal assistance service Read More: How many square feet are needed for spacious 2BHK flat? Difference between BHK and RHK
0 2023-07-15T08:42:42+00:00
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The term "LIG" describes a group of people whose income is comparatively low in contrast to the average income in a certain nation. As Amit mentioned in his response the LIG house full form is Low Income Group. The people in this group struggle to pay for their most basic requirements. Moreover, the various types of flat buildings in India are classified under LIG, MIG, and HIG. Let’s discuss them below.

What is LIG colony full form?

As everyone mentioned, LIG households are those with annual incomes between Rs. 3,00,000 and Rs. 6,00,000. The Low Income Group frequently faces difficulties with issues including food insecurity, a lack of access to high-quality healthcare and education, and a lack of job prospects. Amit has clearly explained LIG. You must go through his response to get comprehensive detail on LIG.

What is MIG full form?

  • The MIG flats full form is Middle Income Group. 
  • There are two subgroups of the MIG: MIG-I and MIG-II. T
  • The MIG-I group has an annual income between Rs. 6 and Rs. 12 lakhs.
  • MIG-II group has an income between Rs. 12 and Rs. 18 lakhs.

What is HIG full form?

HIG stands for a high-income group, and members of this group get access to extra amenities like wider carpeting, 3 BHK flats, duplex homes, bungalows, etc. I hope you found this answer helpful. Understand the housing schemes for LIG via NoBroker’s legal assistance service. Read more - How to apply for Pradhan Mantri Awas Yojana?  What is the difference between BHK and RHK? 
0 2023-09-25T20:29:43+00:00
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The LIG flats full form is the low-income group. Individuals who are part of a household with an annual gross income of between Rs. 3 lakhs and Rs. 6 lakhs are considered to be in the LIG or Low Income Group.  What is LIG flats? The LIG housing category, which is aimed at people in this income range, includes a single unit in a multi-story building or a unit of 60 square metres. These apartments have the essentials, such as bathrooms, electricity, and water supply. After understanding what is LIG and what is the LIG full form in house, let us focus on the Schemes under LIG;
  • Pradhan Mantri Awas Yojana
  • Maharashtra Housing and Area Development Authority Scheme (MHADA) Delhi Development Authority (DDA) Housing Scheme
  • West Bengal Housing Board Scheme
  • Rajiv Awas Yojana
  • Tamil Nadu Housing Board Scheme
What features come with the LIG flat? In LIG apartments or homes, amenities such as roads, water supplies, electricity, fire suppression systems, and sports courts are offered. I hope this helps:) Explore affordable apartment listings from NoBroker Read More: How much time does it take to get a PMAY subsidy? How to get an assessment ID for PMAY? Who is eligible for PMAY subsidy? 

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