Home Loan Under Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme

July 19, 2017 | By user | Filed in: Housing News.

Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has come with new subsidy scheme called Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY-URBAN)-Housing for All.

PMAY – Credit Linked Subsidy Scheme

Credit Linked Subsidy Scheme (CLSS) aims to provide financial support to the Economically Weaker Sections (EWS) and Low Income Group (LIG) for purchasing or construct residential units under affordable housing scheme.
The Loan amounts under Credit Linked Subsidy Scheme will be available upto Rs.6 lakh. The seeking housing loans from banks, Housing Finance companies and other such institutions would be eligible for an interest subsidy at the rate 6.5 % for a tenure of 15 year.

So far 43,166 beneficiaries has applied for CLSS & interest subsidy of Rs. 824 crore has been provided to them.

Eligibility for Credit Linked Subsidy Scheme (CLSS)

  • The beneficiary family should not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India to be eligible to receive central assistance under the mission.
  • EWS  Annual household income upto 3 lakh
  • LIG Annual household income upto 6 lakh
  • The beneficiary family should comprise husband, wife, unmarried sons /unmarried daughter
  • The beneficiary family should not have availed of central assistance under any housing scheme from government of India

PMAY – Credit Linked Subsidy Scheme Details

Type of CLSS Scheme Income (Rs) Carpet Area Interest Subsidy (%) Subsidy calculated on a max loan Loan Purpose Validity of scheme Max subsidy (Rs) Woman ownership
EWS and LIG* Upto Rs. 6,00,000 60 sqm 6.50 % Rs. 6,00,000 Purchase/Self construction/Extension 31/03/2022 2.67 Lacs Yes
MIG 1** Rs.6,00,001 to Rs. 12,00,000 90 sqm 4.00% Rs.9,00,000 Purchase/Self  Construction 31/12/2017 2.35 Lacs Not Mandatory
MIG 2** Rs. 12,00,001 to Rs. 18,00,000 110 sqm 3.00 % Rs.12,00,000 Purchase/Self Construction 31/12/2017 2.30 Lacs Not Mandatory

* Woman ownership is not mandatory for construction/Extension
** for MIG-1 and 2 loan should be approved on or after 01/01/2017

Credit Linked Subsidy Scheme is valid upto 1st December 2017. Candidates will not be able to get  subsidy on interest under PM Awas Yojana.

Source: http://hindi.news18.com/news/business/only-250-households-availed-rate-cut-in-pmay-1045532.html


Tags: , , , ,

One comment on “Home Loan Under Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme

  1. VINAY MALHOTRA says:

    DEMAND SURVEY ID HAS BEEN GENERATED UNDER CLSS BUT NO TELEPHONE/QUERY HAS BEEN RECD. FROM CHANDIGARH HOUSING BOARD CHANDIGARH.WHAT IS FATE OF APPLICATION APP04800286299246 ANISHA

Leave a Reply

Your email address will not be published. Required fields are marked *