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.
|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||Female 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|