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.
- 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.
- Resident individual either singly or jointly, between 18 to 65 years, with independent and regular source of income.
- Individuals/Beneficiary from Economically Weaker Section (EWS) & Low Income Group (LIG) category/families.
- Beneficiary shall be resident of an urban/Rural area. An urban area includes all 4041 statutory towns as per Census 2011.
- A beneficiary family will comprise husband, wife, unmarried sons and/or unmarried daughters.
- EWS households are defined as households having an annual income upto Rs.3,00,000 (Rupees Three Lakh).
- LIG households are defined as households having an annual income between Rs.3,00,001 (Rupees Three Lakh One) upto Rs.6,00,000 (Rupees Six Lakh)
- MIG 1 households are defined as households having an annual income between Rs.6,00,001 (Rupees Six Lakh One) upto Rs.12,00,000 (Rupees Twelve Lakh)
- MIG 2 households are defined as households having an annual income between Rs.12,00,001 (Rupees Twelve Lakh One) upto Rs.18,00,000 (Rupees Eighteen Lakh)
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)
All statutory towns as per Census 2011 and towns’ notified subsequently, including planning area as notified with respect to statutory town.
|CLSS Scheme Type||Eligibility Household Income ( Rs.)||Carpet Area-Max (sqm)||Interest Subsidy (%)||Subsidy calculated on a max loan of||Loan Purpose||Validity||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 & 2 loan should be approved on/or after 1-1- 2017
- Aadhaar number(s) of the beneficiary family are mandatory for ALL category.
- The interest subsidy will be available for a maximum loan tenure of 20 yrs or the loan tenure whichever is lower.
- The interest subsidy will be credited upfront to the loan account of beneficiaries through WEHFL resulting in reduced effective housing loan and Equated Monthly Installment (EMI).
- The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
- 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.
*for more details on the scheme please refer www.mhupa.gov.in
Note: Assessment of your eligibility to avail the benefits of CLSS is at the sole discretion of the Government of India. Contents herein are parameters outlined under the scheme for assessment of entitlement.