Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme

In order to empower people to get their dream home, honourable Prime Minister has announced a comprehensive and a progressive mission, 'Pradhan Mantri Awas Yojana – Housing for All'.

One of the major verticals of Pradhan Mantri Awas Yojana (PMAY) is Credit Linked Subsidy Scheme (CLSS) for Lower Income Group/Economically Weaker Section (EWS/LIG) and Middle Income Group (MIG – I & II). Under this scheme, Central government provides financial assistance through lending Institutions to eligible beneficiaries.

The interest subsidy is channelized through two central nodal agencies - National Housing Bank (NHB) and Housing & Urban Development Corporation (HUDCO). The apex government bodies channelize subsidy to the lending institutions and they help the eligible applicants to avail subsidy.

Eligibility & Beneficiary

  • The beneficiary family should not own a pucca house in his/her or in the name of any member of his/her family in any part of India.
  • In case of married couple, either of the spouse or both together in joint ownership will be eligible for a single subsidy.
  • The beneficiary family should not have availed of central assistance under any housing scheme from Government of India or any benefit under any scheme in PMAY.
  • The beneficiary family will comprise husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)
  • Upfront interest subsidy benefit on principal outstanding.
  • Aadhaar number(s) of the beneficiary family are mandatory for MIG category
  • Interest subsidy will be available for maximum loan tenure of 20 years or the loan tenure availed by the borrower whichever is lower.
  • There is no cap on the loan amount or on the cost of property.
  • The additional loan beyond the specified limits, if any to be at non-subsidized rate.

Key Parameters

Sl No. Particular CLSS Existing Scheme CLSS - MIG 1 CLSS MIG II
1  Scheme Name  CLSS - EWS/LIG  CLSS - MIG 1  CLSS MIG II
2  Household Income (P.A Rs.)  Upto 6 Lakhs  Above 6 Lakhs to Rs.12 Lakhs  Above Rs.12 Lkahs to Rs.18 Lakhs
3  Dwelling Unit Carpet Area  Upto 60 Sqmtr  Upto 90 Sqmtr  Upto 110 Sqmtr
4  Fewale Ownership  Mandatory  Not Mandatory  Not Mandatory
5  Eligible Housing Loan for Subsidy (Rs.)  6 Lakhs (Above 6 Lakhs normal ROI)  9 Lakhs (Above 9 Lakhs normal ROI)  12 Lakhs (Above 12 Lakhs normal ROI)
6  Maximum Subsidy  Rs.2,67,280/- (Appx)  Rs.2,35,068/- (Appx) Rs.2,30,156/- (Appx)
7  Tenor for calculating subsidy amount  20 years  20 years  20 years
8  House Hold definition  Husband, wife & unmarried children  Husband, wife & unmarried children An adult earning member (irrespective of its marital status be considered as separate)  Husband, wife & unmarried children An adult earning member (irrespective of its marital status be considered as separate)
9  Documentation required  Aadhar of Applicant, co-applicant is must  Aadhar of Applicant, co-applicant is must  Aadhar of Applicant, co-applicant is must
10  Loan for House Upgradation  Covered  Not Covered  Not Covered
11  Implementation date & validity  Valid till 2022  01.01.2017 valid for one year only  01.01.2017 valid for one year only

*for more details on the scheme please refer www.mhupa.gov.in

 Book A SITE VISIT
Please leave your details here
  Enquire form