Pardhan Mantri Awas Yojana

Pardhan Mantri Awas Yojana

Credit Linked Subsidy Scheme for Ews/Lig/Mig-I/Mig-Ii Group

Coverage : All 4041 Statutory Towns as per Census 2011 with focus on 500 Class 1 cities. Beneficiary Eligibility :

EWS & LIG

Persons belonging to EWS and LIG categories. EWS is defined as persons with annual household income less than Rs. 3.00 lakh and house sizes up to 30 Sq. mts. LIG is defined as annual household income above Rs. 3.00 lakh and up to Rs. 6.00 lakh and house sizes up to 60 sq. mts.

The beneficiary, at his/her discretion, can avail more loan amount as per eligibilty but interest subvention would be limited to first Rs. 6.00 lakh only.

MIG -I & MIG-II

MIG-I : Persons belonging to MIG-I categories defined as persons with annual household income above Rs. 6.00 lakh and up to Rs. 12.00 lakh and house sizes up to 90 sq. mts.

MIG-II : Persons belonging to MIG-II categories defined as persons with annual household income above Rs. 12.00 lakh and up to Rs. 18.00 lakh and house sizes up to 110 sq. mts.

CLSS for MIG will be implemented initially in 2017 for a period of one year w.e.f. 01 January 2017.

CLSS for EWS/LIG is valid upto 31st March, 2022.

The beneficiary family should not own a pakka house either in the name of the family head or any member of his/her family in any part of India to be eligible to receive subsidy under the scheme. Beneficiary family will comprise husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household.

Purpose :

Only for acquisition/new construction (including repurchase) and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing subject to the upper limit of carpet areas specified under the eligibility group.

Category of Borrowers	Income Criteria (House Hold income p.a.)	Loan amount eligible for subsidy	Rate of Interest of subsidy	Dwelling Unit Carpet Area in Sq Mtrs.	Loan Tenor	Maximum Amount of Interest Subsidy (In Rs.)
EWS	Upto Rs. 3.00 Lakhs	Rs. 6.00 Lakhs	6.50%	Up to 30	Maximum 20 years or loan tenor whichever is lower	267280/-
LIG	Above Rs. 3.00 lakhs & upto Rs. 6.00 lakhs	Rs. 6.00 Lakhs	6.50 %	Up to 60		267280/-
MIG-I*	Above Rs. 6.00 lakhs & upto Rs. 12.00 Lakhs	Rs. 9.00 Lakhs	4%	Up to 90		235068/-
MIG-II*	Above Rs 12.00 Lakhs to Rs 18.00 Lakhs	Rs. 12.00 lakhs	3%	Up to 110		230156/-

*Applicable for the period of one year from 01.01.2017

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