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Pradhan Mantri Awas Yojana

PMAY - CLSS [Affordable Housing - URBAN]

Particulars

Economically Weaker Section (EWS)

Low Income Group (LIG)

Middle Income Group II (MIG-I)

Middle Income Group II (MIG-II)

Eligibility

   Resident individual either singly or jointly, between 18 to 65 years, with independent and regular source of income.

  • Individuals/Beneficiary from EWS and Low Income Group (LIG) category/families.
    EWS households are defined as households having an annual income up to Rs 3.00 Lakhs.
  • LIG households are defined as households having an annual income above Rs 3.00 Lakhs up to Rs 6.00 Lakhs.

Individual from MIG: MIG-I households are defined as households having an annual income  between Rs 6.00 Lakh to Rs 12.00 Lakhs.

Individual from MIG:
MIG-II households are defined as households having an annual income  between Rs 12.00 Lakh to Rs 18.00 Lakhs.

Beneficiary Family

A beneficiary family will comprise husband, wife, unmarried sons and/or unmarried daughters. The beneficiary family should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.

An adult earning member (irrespective of marital status) can be treated as separate household:

  • Provided that he/she does not own a pucca (an all-weather dwelling unit) house in his/her name in any part of India.
  • Provided also that in case of married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the scheme.

The houses constructed/acquired should be in the name of the FEMALE head of the household or in the joint name of the MALE head of the household and his wife, and only in the cases when there is no adult female member in the family, the dwelling unit/house can be in the name of male member of the household. This female ownership condition is only for new purchases and not for new construction (on an existing piece of land) or for enhancement/repairs of an existing house.

PMAY CLSS subsidy benefits cannot be extended to those beneficiaries who have received benefits under other Central Government schemes and other verticals under PMAY. 

To be eligible to receive central assistance under CLSS for MIG:

 

  • The beneficiary family should not own a Pucca (an all-weather dwelling unit) house either in his/her name or in the name of any member of his/her family in any part of India.
  • A beneficiary family should not have availed of central assistance under any housing scheme from Government of India.
  • A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughter. An adult earning member (irrespective of marital status) can be treated as a separate household.
  • Provided also that in the case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of household under the Scheme.

Purpose

For purchase / new construction of a dwelling/house/flat; repurchase of a new construction house and carrying out repairs / extension/ addition of rooms, kitchen, toilet etc., to existing dwelling unit. Repairing work to the existing house can be undertaken in houses which are kutcha, semi pucca and require extensive renovation, in URBAN areas only.

For acquisition/ construction of houses (including re-purchase) in URBAN areas.

Loans for Repair/ Renovation/ Extension of existing  dwelling unit are not eligible for subsidy under the scheme

Location of Property

All Statutory Towns as per Census 2011 and statutory towns notified subsequently would be eligible for coverage. Areas falling within notified Planning/Development area under the jurisdiction of an Industrial Development Authority/Special Area Development Authority/ Urban Development Authority or any such Authority under State Legislation which is entrusted with the functions of urban planning and regulations shall also be included for the coverage under PMAY (U).

Loan Amount

For Salaried : 60 times of Gross Monthly Salary/ 75 times of Net Monthly Salary (Whichever is Higher)
Others (Businessman / professional) : 5 times of last 3 years average income based on IT returns for Businessman/ 5 times of last 3 years average income based on IT returns for Professional.

Margin

Up to Rs.30.00 Lakh --  90%
Above Rs.30.00 Lakhs and up to Rs.75.00 Lakhs -- 80%
Above Rs.75.00 Lakhs -- 75 %

Security

Mortgage of house / flat purchased out of the bank finance.

Repayment

Maximum Repayment period of 30 years or on borrower reaching the age of 75 years whichever is earlier including moratorium period of maximum 36 months. However, the subsidy is available for 20 years or for tenure of the loan, whichever is lower.

Other Conditions/guidelines

Construction of the property should be completed within 36 months after the first disbursement.
NPA accounts are not eligible under the scheme.
Subsidy shall be refunded to NHB / HUDCO, in case account turn into NPA after getting the subsidy.
Beneficiary should not be having any pucca house anywhere in India.

 

EWS

LIG

MIG 1

MIG 2

Loans covered

Loans sanctioned on and after 17.06 2015

Loans sanctioned on and after 01.01.2017

Household Income (Rs. p.a.)

Up to Rs. 3.00 Lakh

Above Rs. 3.00 Lakh and Up to

Rs. 6.00 Lakh

Above Rs. 6.00 Lakh and Up to

Rs. 12.00 Lakh

Above Rs. 12.00 Lakh and Up to Rs. 18.00 Lakh

Interest Subsidy (%)

6.50% p.a.

6.50% p.a.

4.00% p.a.

3.00% p.a.

Maximum Loan tenure (in years) for subsidy calculation

For loans sanctioned and disbursed

From 17.06.2015 to 31.12.2016 - 15 Years

On and after 01.01.2017 - 20 Years

20 Years

Eligible Housing Loan Amount for interest subsidy (Rs.)

Rs. 6.00 Lakh

Rs. 6.00 Lakh

Rs. 9.00 Lakh

Rs. 12.00 Lakh

Specification of property / dwelling unit carpet area (1 Sq.Mtr. = 10.76 Sq.Ft.

Upto 30 Sq. Mtr. (only in case of repair / extension)

Up to 60 Sq. Mtr. (only in case of repair / extension)

Up to 160 Sq. Mtr.

Up to 200 Sq. Mtr.

In case of housing loan for purchase / construction, the beneficiary, at his / her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6.00 Lakh only.

Loan for Repair / Renovation / Extension of existing dwelling unit are not eligible for subsidy under the scheme.

Discount rate for NPV calculation of interest subsidy (%)

9.00%

9.00%

Maximum Subsidy Amount

Rs. 2.67 Lakh

Rs. 2.67 Lakh

Rs. 2.35 Lakh

Rs. 2.30 Lakh

  • In addition to the above, all other eligibility criteria shall be as per MAHA SUPER HOUSING Loan Scheme guidelines