Pradhan Mantri Awas Yojana (PMAY) was introduced by the Central Government of India to encourage people in rural and urban areas to own a pucca house (i.e. a permanent home with solid walls and roof that lasts through all seasons). PMAY has been utilized by thousands of people throughout India. If you have submitted your home loan application to a bank or financial institution with PMAY under one of the three categories – LIG/EWS, MIG I, MIG II, Ministry of Housing and Urban Affairs – PMAY will review your application, verify the information provided and check eligibility to approve your application.
Under the PMAY scheme, a married couple and unmarried children of the couple are considered a “household”. If the unmarried children are adults and earning members of the family, an adult child (who is employed) can be considered as a separate household.
In Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS), the income of the household is considered to fall in one of the three categories of PMAY CLSS. Here are the details of the three categories:
Low Income Group (LIG) or Economically Weaker Section (EWS)
Combined income of home loan applicant and his household should fall within Rs.3 lakhs – Rs.6 lakhs per annum to be eligible to apply for PMAY CLSS under LIG. Subsidy on interest rate is given at a maximum of 6.5% p.a. The maximum carpet area of the residential property that is covered under the scheme is 645.83 square feet. Any excess portion of the residential property will not be eligible for subsidy.
Middle Income Group (MIG) I
If the household income falls between Rs.6 lakh – Rs.12 lakh per annum, the home loan applicant can apply for PMAY CLSS under MIG I. Subsidy on interest rate is given at a maximum of 4% p.a. The maximum carpet area of the residential property that is covered under the scheme is 160 square feet. Any excess portion of the residential property will not be eligible for subsidy. Maximum loan tenure covered is 20 years.
Middle Income Group (MIG) II
If the home loan applicant and his/her household income fall between Rs.12 lakh – Rs.18 lakh per annum, PMAY CLSS can be utilized under MIG II category. Home loan applicant receives subsidy of 3% p.a. on the interest rate. The residential property for which loan is applied for should not be over 200 square meters. Any area in excess of 200 square meters will not be covered under PMAY CLSS. Also, the maximum loan tenure is 20 years. In case loan is taken beyond 20 years, the period beyond 20 years will be under the interest rate as per the home loan plan. No subsidy will be provided for the excess period.
Here’s how you can check the status of your application for PMAY subsidy:
Track Pradhan Mantri Awas Yojana (PMAY) application status for receiving Subsidy
Step 1 – Log on to the official website of PMAY here – https://pmaymis.gov.in/track_application_status.aspx
Step 2 – If you choose Option 1 – ‘By Name, Father’s name, Mobile number’, enter details of your state, district, city, your name, your father’s name and your mobile number as registered on your home loan application.
Step 3 – Click on ‘Submit’ button.
Step 4 – If you choose Option 2 -’By Assessment ID’, enter the assessment ID you received upon submitting your home loan application under PMAY CLSS.
Step 5 – Enter the mobile number given in your home loan application form. Click on ‘Submit’ button to view the details of your subsidy for PMAY CLSS.
After your application is approved to receive subsidy on interest for home loan under PMAY, you can check the status of PMAY subsidy. There are 5 stages that a submitted application goes through for receiving subsidy under PMAY CLSS. They are,
Stage 1 – Generation of application ID
Stage 2 – Diligence by PLI
Stage 3 – Claim uploaded on Central Nodal Agency Portal
Stage 4 – Subsidy claim approved
Stage 5 – Subsidy released by PLI
Track PMAY Subsidy status using CLSS tracker
Step 1 – Visit official website of PMAY UCLAP by clicking on this link – pmayuclap.gov.in
Step 2 – Enter Application ID and click on ‘Get Status’.
Step 3 – You will receive OTP on your registered mobile number. Enter the OTP in the box provided.
All the stages of PMAY CLSS application will be displayed. The stage that is cleared and passed will be displayed in green color. The stage that is in progress will be shown in blue color.
Track PMAY Subsidy status using Toll free number
National Housing Bank (NHB) Toll free number – 1800 11 3377/1800 11 3388
Housing and Urban Development Corporation (HUDCO) – 1800 11 6163
PMAY Subsidy Frequently Asked Questions (FAQs)
- What is Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS)?
Pradhan Mantri Awas Yojana was introduced by the Government of India to encourage people to get their own residential property in urban areas. Under CLSS scheme, Indian residents who fall in low income and middle income household groups are eligible to apply for PMAY CLSS. The beneficiaries will receive subsidy on interest rate of home loan taken for the purpose of construction, purchase, extension or improvement of residential property.
- Who is eligible to receive subsidy under PMAY?
Individuals who satisfy the following criteria are eligible to apply and receive subsidy under PMAY-
- Individuals who do not own a residential property in any part of India.
- Individual and his family members should not have received any benefit previously under the scheme – ‘Housing for all by 2022’.
- Household income should be within these brackets – Rs.3 lakhs – Rs.6 lakhs per annum, Rs.6 lakh – Rs.12 lakh per annum, Rs.12 lakh – Rs.18 lakh per annum
- How will I receive subsidy under PMAY?
The bank/NBFC in which you apply for home loan under PMAY CLSS, the bank or financial institution will submit required documents and information about you to National Housing Bank (NHB). NHB will verify the home loan applicant and upon satisfactory results grant the subsidy for interest on the home loan.
- How does subsidy in PMAY CLSS work?
Once NHB approves subsidy for a home loan applicant under PMAY CLSS, NHB credits the subsidy amount to your lender. This is the back-end process. Once your lender receives the subsidy amount, interest is calculated based on PMAY CLSS rates for your home loan. So, you would only have to pay the interest rate specified as in LIG/MIG I/MIG II and not as per your home loan plan offered by the bank.
- My spouse has got PMAY on home loan for purchase of home. Can I get another home loan under the PMAY scheme independently?
Only one individual in a household is eligible to utilize the benefit of PMAY for purchase, construction, repair or refurnishing of a residential property. Household comprises of a married couple and their unmarried children. If the children are adults and earning members of the family, the adult earning member can be considered as a separate household even if the adult is not married. Husband and wife can jointly get a home loan under PMAY scheme.
- I got a pucca house as a gift. I want to construct another house. Can I apply for PMAY scheme?
If the house you received as a gift is in your name and within India, you are not eligible to apply for PMAY on a home loan. Only if you and all of your household members do not own any house in any part of the country, you can apply for home loan under PMAY CLSS. Since the motto of this scheme is to provide housing for all, it does not support individuals who already own a house.
- Can I get more than one home loan with PMAY?
No. You can get only one home loan under PMAY. Once your home loan is approved under PMAY, your details are recorded on the PMAY database. If you apply for PMAY with any lender apart from your present lender, your second application will be rejected.