Credit Link Subsidy Scheme under Pradhan Mantri Awas Yojana (PMAY) Urban

 

Pradhan Mantri Awas Yojana (PMAY)Urban promotes Affordable Housing for the weaker section through Credit Linked Subsidy Scheme (CLSS).

KHUSH HOUSING FINANCE PVT. LTD has signed a MoU with the National Housing Bank for facilitating CLSS under PMAY.

Credit Link Subsidy Scheme (CLSS)

CLSS could be availed on home loans taken by an applicant under Economic Weaker Section (EWS), Low Income Group (LIG), MIG I and MIG II for buying or construction of a house.

  • Applicant under EWS/LIG would be eligible to avail subsidy at the rate of 6.5% for the maximum tenure of 20 years under CLSS for loan amount up to ₹.6,00,000.00 only.
  • Applicant under MIG1 would be eligible to avail subsidy at the rate of 4.0% for maximum tenure of 20 years under CLSS for loan amount up to ₹.9,00,000.00 only.
  • Applicant under MIG2 would be eligible to avail subsidy at the rate of 3.0% for maximum tenure of 20 years under CLSS for loan amount up to ₹.12,00,000.00 only.
Eligibility Criteria
  • Family not owning a pucca house in name of any member of the family anywhere in India.
  • Property being purchased / to be purchased in any notified town by MoHUPA – Ministry of Housing and Urban Poverty Alleviation
Family

Husband, wife & unmarried children

House Holds
  • EWS Households: Annual Income up to ₹.3,00,000.00
  • LIG Households: Annual Income up to ₹.6,00,000.00
  • MIG1 Households: Annual Income up to ₹.12,00,000.00
  • MIG2 Households: Annual Income up to ₹.18,00,000.00
Notified Town

An area declared as a town under statute where CLSS under PMAY is applicable

Carpet Area

Area enclosed within the walls. This area does not include a thickness of inner walls.

  • Up to 30 sq. m. for EWS category
  • Up to 60 sq. m. for LIG category
  • Up to 150 sq. m. for MIG I
  • UP to 200 sq. m. for MIG II
Owner of The House
  • Applicant in whose name the title of the land/undivided share of land rests.
  • Existing plots/house – any adult family member can be owner.
  • House to be purchased – Female head of household or male head of household jointly with spouse are to be owners.