Awas Yojana (PMAY)
Under the Pradhan Mantri Awas Yojana, the Government of India aims to fulfil the dream of every first time home buyer in India, by offering him/her an affordable home loan to buy a "pucca" residential house.
First-time home buyer, who will be the end users. Loan applicant should not have applied any Central/State Government subsidy or benefit for housing under PMAY. Individual loan applicants should not own property under their name at present and along with any of the family members(including dependants).
Self-Construction, renovation or improvement loans only for EWS & LIG categories.
The property should be in urban areas basis 2011 Census.
The beneficiary family will comprise husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household as per MIG category).
All Statutory Towns as per Cencus 2011 and towns notified subsequently will be eligible for coverage under the Scheme.
|CLSS Scheme Type||Eligibility Household Income( Rs )||Carpet Area-Max(sqm)||Internet Subsidy(%)||Subsidy calculated on max loan of||Loan Purpose||Validity of scheme||Max
( Rs )
|EWS and LIG||Upto Rs.6,00,000||60 sqm||6.5 %||Rs.6,00,000||Purchase/self Construction/Extension||31/03/2022||2.67 Lacs||Yes|
|MIG 1 **||Rs.6,00,001 to Rs. 12,00,000||120 sqm||4.00 %||Rs. 9,00,000||Purchase/self
|31/03/2019||2.35 Lacs||Not mandatory|
|MIG 2 **||Rs.12,00,001 to Rs. 18,00,000||150 sqm||3.00 %||Rs. 12,00,000||Purchase/self
|31/03/2019||2.30 Lacs||Not mandatory|
*women ownership is not mandatory for construction / extension
*As per ammendment dated 15.03.2018, an adult earning member (irrespective of marital status) can be treated as a seperate household. Provided also in case of a married couple, either of spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the scheme.
**for MIG - 1 & 2 loan should be approved on/or after 01/01/2017
*for more details onn the scheme please refer
Note: Assessment of your eligibility to avail the benefits of CLSS is at the sole discretion of the Government of India. Content herein are parameters outlined under the scheme for assessment of entitlement.
How to Apply
Proof of both identity and residence (any 1)
Salaried Individuals Self Employed Professional Self-Employed Non Professional
*If varaible components like over time and incentives are reflected, then salary slips for the past 6 months are required.
Note: Original documents are required for verification purpose only.
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A beneficiary family not owning a house in any part of the India is eligible for this subsidy subject to income criteria as defined for the family.
The beneficiary family will comprise husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category).
Woman ownership or co-ownership is mandatory for EWS and LIG. However, this condition is not mandatory for self construction/extension or MIG categories.
After the loan is disbursed, the required details are sent by HDFC to NHB for validation of data and other checks. NHB after necessary due diligence approve the subsidy to eligible borrowers.
No, but the subsidy will be limited to the loan amount defined against each category and additional amount will be at non- subsidized rate of interest.
You can apply for housing loan under CLSS at any HDFC branches.