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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	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

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