Get Credit Link Subsidy under Pradhan Mantri Awas Yojna

Pradhan Mantri Awas Yojana - Credit Linked Subsidy Scheme

You have heard about banks offering home loans under PMAY - Housing For All. So, people who come under the below-mentioned criteria are eligibile to avail the benefits of interest subsidy.

The Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) is a scheme launched by our Prime Minister Narendra Modi for the Economically Weaker Section (EWS) and Low Income Group (i.e. EWS, LIG & MIG) of people. Through this scheme, the beneficiary is eligible to avail interest subsidy on the purchase/construction of a house. Beneficiary availing this scheme are eligible to gain interest subsidy on the buy or construction of a house or the improvement of dwelling unit. Applicable for consumers who purchase/construct their first home. The recipient family should not own any home in their name.

Eligibility

• People belong to the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I) and Middle Income Group-II (MIG-II) are eligible for this scheme

• Age of the claimant must be 65 years or less

• Income range of the claimant must be below Rs. 3 lac per annum for economically weaker sections(EWS) and between Rs. 3 - 6 lac per annum for lower income groups(LIG)

• Women who are citizen of India are eligible

Beneficiary

• They must meet the income condition of the scheme.

• The recipient family should not previously own a 'pucca' house wherever in India under their own name.

• The recipient family should not have already availed any other central assistance under any other housing scheme from the Government of India or benefit under any scheme in Pradhan Mantri Awas Yojana (PMAY).

• The recipient family shall comprise of husband, wife and unmarried children. Though, under the MIG category, an adult earning member irrespective of his/her marital status can also be treat as a separate household.

• For married couples, either spouse or both of them together in joint possession can be entitled for a single subsidy.

• Exception: An adult earning member (irrespective of marital status) can be treat as a separate household – which means a single availing a loan can also gain subsidy if he/she is buying property in his/her name.

PRADHAN MANTRI AWAS YOJANA SCHEME GRID