Pradhan Mantri Awas Yojana (PMAY) – Credit Linked Subsidy Scheme (CLSS)
Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has introduced in June 2015,an interest subsidy scheme called Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN)-Housing for All, for purchase/construction/ extension/ improvement of house to cater Economical Weaker Section (EWS}/Lower Income Group (LIG)/Middle Income Group {MIG), given the projected growth of urbanization & the consequent housing demands in India.
Eligibility:
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 Indi
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.
Beneficiary:
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)
Scheme details clss scheme type |
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| Ews and lig | Mig1 ** | Mig2 ** |
Eligibility household income (rs.) | Up to rs. 6,00,000 | Rs. 6,00,001 to rs. 12,00,000 | Rs. 12,00,001 to rs. 18,00,000 |
Carpet area-max (sqm) | 60 sqm | 160 sqm | 200 sqm |
Interest subsidy (%) | 6.50% | 4.00% | 3.00% |
Subsidy calculated on a max loan of | Rs. 6,00,000 | Rs. 9,00,000 | Rs. 12,00,000 |
Loan purpose | Purchase/self-construction/extension | Purchase/self-construction | Purchase/self-construction |
Validity of scheme | 31/03/2022 | 31/03/2021 | 31/03/2021 |
2.67 lacs | Rs. 6,00,000 | 2.35 lacs | 2.30 lacs |
Other features:
- Aadhar number(s) of the beneficiary family are mandatory for mig category.
- The interest subsidy will be available for maximum loan tenure of 20 yrs or the loan tenure whichever is lower.
- the additional loan beyond the specified limits, if any to be at non-subsidized rate.
- There is no cap on the loan amount or the cost of the property.
- url of the government web site www.mhupa.gov.in