LIG, MIG, and HIG Flats: Definitions, Key Differences, and Available Housing Schemes

Understanding different housing schemes is essential for prospective homebuyers. Key terms like LIG (Lower Income Group), MIG (Middle Income Group), and HIG (Higher Income Group) flats are often used, each designed for specific income brackets and housing requirements. These classifications help buyers identify appropriate housing options and understand the financial support available through various government schemes. In this guide, we’ll explain the meanings of LIG, MIG, and HIG flats, outline their key differences, and explore the schemes tailored to support homebuyers in each category.

What Does MIG (Middle Income Group) Mean?

The middle-income group (MIG) is divided into two subcategories: MIG-I and MIG-II, based on annual income. Individuals with yearly earnings between ?6 lakhs and ?12 lakhs fall under the MIG-I category, while those earning between ?12 lakhs and ?18 lakhs are classified as MIG-II. For MIG-I, a recommended carpet area of 120 square meters is allotted, while MIG-II allows for 150 square meters. Previously, the carpet area for these categories ranged from 90 to 110 square meters, but it has since been increased to accommodate diverse housing needs.

What Does LIG (Low Income Group) Mean?

The Low Income Group (LIG) category is designed for families with an annual income between ?3 lakhs and ?6 lakhs. LIG housing typically includes units up to 60 square meters in multi-story buildings, offering essential amenities such as bathrooms, electricity, and water supply. These affordable housing options cater specifically to individuals and families within this income range, providing basic facilities for comfortable living.

Understanding the Difference Between LIG and EWS Housing Categories

EWS (Economically Weaker Section) refers to families with an annual income of up to ?3 lakhs, also known as the "Economy-based Unreserved Category." EWS housing units typically offer up to 30 square meters of carpet area, providing essential amenities such as electricity and water supply. These affordable apartments cater specifically to individuals and families in this income bracket, ensuring basic living facilities.

What Is HIG (High Income Group)?

HIG (High Income Group) includes families with an annual income exceeding ?18 lakhs. This group qualifies for premium housing options, such as 3 BHK flats, duplexes, and bungalows, offering larger carpet areas. HIG housing is designed to cater to individuals who can afford more luxurious living spaces, with additional amenities and expansive living environments.

LIG vs MIG vs HIG Flats: Key Specifications Explained

• LIG Flats: Key Specifications and Features
  Size: 300 to 600 sq ft
  Amenities: Basic facilities like electricity and water; often lacking additional features.
  Price: The Most Affordable Housing Option for Low-Income Families
  
  
• MIG flats: Key Specifications and Features
  Size: 600 to 1,200 sq ft
  Amenities: Affordable Housing with Moderate Facilities: Community Spaces, Parks, and Essential Services
  Price: Ideal for Middle-Class Families: A Perfect Balance of Comfort and Affordability
  
  
• HIG flats: Key Specifications and Features
  Size: 1,200 sq ft and larger
  Amenities: Luxury Housing Features: Gyms, Swimming Pools, and Premium Finishes
  Price: Premium Pricing for Affluent Buyers Seeking Luxury Properties
  
  

LIG vs MIG vs HIG Flats: Benefits of Each Category

• Advantages of LIG Flats
  Affordable entry: LIG Flats An Ideal and Affordable Option for First-Time Homebuyers Looking to Invest in Real Estate
  Appreciation potential: With the growing demand for affordable housing, LIG flats have the potential for significant value appreciation over time, making them a smart investment choice.
  Rental demand: Thanks to their affordability, LIG flats are popular with tenants, providing a steady source of rental income.
  
  
• Benefits of HIG flats
  Luxury living: HIG flats provide a luxurious lifestyle with spacious living areas and premium amenities that elevate the entire living experience.
  Strong resale value: HIG flats typically see significant appreciation, offering great returns on investment for buyers with higher budgets.
  Prime locations: These flats are usually located in prime areas with excellent infrastructure and top-notch community facilities.
  
  
• Benefits of MIG flats
  Value for money: MIG flats offer a reasonable price for the amenities they provide, catering to families seeking comfort without excessive expenditure.
  Practical location: Typically located near essential amenities like schools, hospitals, and transportation, these flats meet practical living needs.
  Stable growth: With a moderate price range and growth potential, MIG flats are a sound long-term investment.

Pradhan Mantri Awas Yojana (PMAY)

Launched in 2015, the Pradhan Mantri Awas Yojana (PMAY) is a government initiative focused on providing affordable housing for Lower Income Group (LIG) families. Although the program had extended eligibility to Middle Income Group (MIG-I and MIG-II) households until 2021, this has since been discontinued. Under the Credit Linked Subsidy Scheme (CLSS), LIG households benefit from a 6.50% subsidy on home loans. The mission aims to construct 2.95 lakh pucca houses by 2024, supporting housing access and affordability across India.

Rajiv Awas Yojana

LIG households have access to the Rajiv Awas Yojana, a program aimed at making India slum-free by 2022. It focuses on building affordable housing units, ranging from 21 to 40 square meters, to support the country’s underprivileged communities with better living conditions.

Tamil Nadu Housing Board Scheme

The Tamil Nadu Housing Board aims to provide affordable housing options for all income categories—LIG, MIG, and HIG. Any adult resident of Tamil Nadu can apply, provided they don’t already own property in Tamil Nadu or another state with a similar housing scheme.

Key Things to Know About LIG, MIG, and HIG Housing Schemes

• Neither you nor any of your family members should own a Pucca house anywhere in India to be eligible for these schemes.
• You are only allowed to benefit from one housing scheme in your lifetime.
• The subsidy is applicable only if you take a home loan through a recognised bank or non-banking financial company (NBFC).
  
  

Key Things to Know About LIG, MIG, and HIG Housing Schemes

Encouraging inclusive growth: These housing schemes provide access to suitable housing for all income levels. LIG flats are tailored for lower-income individuals, MIG flats serve the middle-income group, offering a balance between affordability and comfort, and HIG flats cater to higher-income families with premium amenities. Together, these options support balanced urban development and promote social equity.

Boosting Infrastructure and Amenities: Launching LIG, MIG, and HIG housing projects often drives essential infrastructure upgrades, including improvements to water supply, transportation, sanitation, and electricity networks. These projects also encourage the development of community amenities like healthcare centers, parks, schools, and shopping areas, enhancing urban infrastructure and quality of life.

Driving Economic Growth: Housing developments fuel economic activity by creating jobs and boosting demand across sectors like real estate, construction, and services. Building LIG, MIG, and HIG flats increases the need for materials and labor, which strengthens local economies. These projects can also attract additional investment, supporting local businesses and promoting sustainable urban development.

By LNN (Liyaans News Network)