Home > Pradhan Mantri Awas Yojana CLSS > PMAY Subsidy Calculator

Have you availed central assistance under any housing scheme from Govt. or any benefit under PMAY?

Do any of your family members or you own a pucca house in India?

50000 1800000
50000 30000000
%
8.45 24.95
Months
36 360

Is an adult female a part of the applicant's household?

Is a woman co-owner in the property ?

Congratulations!

You may save

2,67,280

on your Home Loan, under PMAY!

Subsidy Category - EWS/LIG

Effective Interest Rate

6.56 %

Net Reduction in EMI

2,311

Apply for Home Loan Helpline Number: 1860-267-3000

You may not be eligible for Credit Linked Subsidy under PMAY!

Apply for Home Loan Helpline Number: 1860-267-3000

Credit Linked Subsidy under Pradhan Mantri Awas Yojana (CLSS - PMAY)

One of the major verticals of Pradhan Mantri Awas Yojana (PMAY) is Credit Linked Subsidy Scheme (CLSS) for Lower Income Group/Economically Weaker Section (EWS/LIG) and Middle Income Group (MIG – I & II). Under this scheme, Central government provides financial assistance through lending Institutions to eligible beneficiaries across all statutory towns as per 2011 census and their adjacent planning area (updated by the government from time to time)

Household (under this scheme)

A family comprising of husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.

Carpet Area

It is the area enclosed within the walls, actual area to lay the carpet. It excludes the area covered by the external walls, but includes the area covered by internal partition walls of the apartment.

FAQs

Adult female membership is required in property structure. In case of absence of an adult female member in a household, the property can be registered in the name of a male member only.
  • For EWS/LIG - Husband, Wife and unmarried children constitute household/Beneficiary Family
  • For MIG - Husband, wife and unmarried children
  • An adult earning member (irrespective of its marital status be considered as separate household)
Following documents need to be submitted to the branch officer as per IIHFL Credit Policy. The list of documents is mentioned below:
  • Aadhaar of all household members
  • Notarized Affidavit cum Undertaking is mandatory
As the household does not own a Pucca house, he can apply for subsidy under the scheme subject to additional qualifiers such as annual household income, property in urban/adjacent area etc.
Subsidy amount shall not be adjusted against tenure. The impact of subsidy would be adjusted against principal only, further impacting EMI amount.
  • EWS/LIG - No, there is no capping on minimum/maximum property value or area as per the scheme guidelines issued by the Ministry of Housing and Urban Poverty Alleviation
  • 160 mtrs & 200 mtrs in MIG I & II
No, household cannot take the benefit under CLSS as spouse in beneficiary family/household already owns one property.
Scheme mentions that “The beneficiary family should not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India to be eligible to receive central assistance under the mission”

Therefore, beneficiary family already owning shop, commercial establishment, plot, factory but not owning a pucca house clears the eligibility parameter of 1st house ownership.
The income norms for various Household categories are defined as under:
  • Annual Household Income of EWS/LIG should be less than Rs. 6 Lakhs
  • Annual Household Income of MIG 1 should be Rs. 6-12 Lakhs
  • Annual Household Income of MIG 2 should be Rs. 12-18 Lakhs
Post disbursement of the loan amount, IIFL Home Loans may claim the subsidy benefit for eligible borrowers from National Housing Bank(CNA). .On receipt of Subsidy amount from CNA, the Principal Outstanding in Home Loan Account of the Customer is reduced to the tune of Subsidy amount. Accordingly, EMI of the Customer is reduced
A Customer is eligible for maximum subsidy if the disbursed amount is equal to or more than Rs. 6 lakhs in EWS/LIG category, 9 lakhs in MIG 1 category, 12 lakhs in MIG 2 category and loan tenure is of 20 years. In case Loan disbursement or tenure is below the above-mentioned limits, subsidy would be reduced proportionately. Kindly refer to the subsidy calculator.
  • EWS/LIG - upto 2.67 Lakhs
  • MIG 1 - upto 2.35 Lakhs
  • MIG 2 - upto 2.30 Lakhs
Repairing work to the existing house can be undertaken in houses which are kutcha, semi pucca and require extensive renovation to make it into a pucca house. However, this is applicable only for applicants in the EWS/ LIG categories.

Disclaimer : Above assessed amounts are indicative and may vary from case to case depending on various factors as embedded within the scheme guidelines. The calculator does not guarantee CLSS - PMAY benefit to applicant/customer. Disbursement of subsidy is at sole discretion of Govt. of India.