Credit Linked Subsidy Scheme
The Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) is a scheme launched by our honourable Prime Minister Shri Narendra Modi for the Economically Weaker Section (EWS) and Low Income Group (LIG) of people. Through this scheme, the beneficiary is eligible to avail interest subsidy on the purchase/construction of a house. The scheme is also available for the enhancement of a dwelling unit.
SALIENT FEATURES OF CLSS
  • Interest subsidy of 6.50%* p.a. up to a loan amount of ₹6 lakh for 15 years or the actual term, whichever is lower, credited upfront
  • Actual subsidy amount credited is as approved by the National Housing Bank (NHB)
  • Family income should not exceed ₹6 lakh p.a.
  • Family means husband/wife/unmarried children
  • Applicable for customers who are purchasing/constructing their first home. The beneficiary family should not own any home in their name
  • The carpet area should not exceed 30 sq. mt. for EWS (Income upto ₹3 lacs PA) and 60 sq. mt. for LIG (Income up to ₹6 lacs PA)
  • The construction/extension must be completed within 36 months
  • Woman has to be owner/co-owner of the property