Contrary to popular belief, we demonstrate the feasibility of generating superluminal (and subluminal) probe (and signal) light via electromagnetically induced transparency in a medium comprising coupled double-ladder systems. This scheme can be realized in both homogeneously (radiative) as well as in inhomogeneously (Doppler) broadened atomic systems. Unlike more intricate earlier schemes, our scheme is based simply on steady-state propagation dynamics resulting from compensation of the inevitable absorption losses by large nonlinear gain generated through appropriate choice of the pump and coupling fields. We show how easily in this scheme the speed of weak probe (and signal) fields can be switched from subluminal to superluminal by simply varying the strengths of the coherent pump and coupling fields. Furthermore, it is shown that under these conditions both the signal and probe fields are intensity matched and both propagate with the same subluminal (or superluminal) group velocity without suffering loss or gain for long distance in the medium.