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CLSS Scheme Overview under PMAY Urban

The Pradhan Mantri Awas Yojana (Urban) Credit Linked Subsidy Scheme provides affordable housing through loans and subsidies from banks and financial institutions. The scheme offers interest subsidies on home loans for construction or expansion of homes up to 30-60 square meters for economically weaker and low-income groups making under Rs. 300,000-600,000 annually. Applicants can receive up to Rs. 2.20 lakh subsidy upfront, reducing the loan amount and monthly payments. Andhra Pradesh Township and Infrastructure Development Corporation implements and monitors the program.

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107 views2 pages

CLSS Scheme Overview under PMAY Urban

The Pradhan Mantri Awas Yojana (Urban) Credit Linked Subsidy Scheme provides affordable housing through loans and subsidies from banks and financial institutions. The scheme offers interest subsidies on home loans for construction or expansion of homes up to 30-60 square meters for economically weaker and low-income groups making under Rs. 300,000-600,000 annually. Applicants can receive up to Rs. 2.20 lakh subsidy upfront, reducing the loan amount and monthly payments. Andhra Pradesh Township and Infrastructure Development Corporation implements and monitors the program.

Uploaded by

santhosh kumar
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© © All Rights Reserved
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PRADHAN MANTRI AWAS YOJANA(PMAY) - URBAN

CREDIT LINKED SUBSIDY SCHEME (CLSS)

 CLSS is one of the four verticals under PMAY Urban


 The objective of this scheme is to provide affordable Housing through
Credit Linked Subsidy through Banks/Financial Institutions.
 Andhra Pradesh Township and Infrastructure Development Corporation
(APTSIDCO) is acting as State Level Nodal Agency for implementation and
Monitoring the scheme.

Salient features of the scheme:


 Credit Linked Subsidy will be available for housing loans availed for
1. New construction
2. Addition of rooms, kitchen, toilet etc., to existing dwelling as incremental
housing.

Annual Income limit:


 Economic Weaker Section (EWS): annual income up to Rs.3,00,000
([Link] lakhs).
 Low Income Group (LIG): annual income between Rs.300,001(Rupees
Three Lakhs One) upto Rs.6,00,000(Rupees Six Lakhs)

Carpet area limit:


 Economic Weaker Section (EWS) : upto 30 sq. meters
 Low Income Group (LIG): upto 60 sq. meters
 If the carpet area exceeds the respective limits, then the beneficiary would
not be eligible to avail interest subsidy under this component.

Interest subsidy:
a. Subsidy will be available only for loan amounts upto Rs.6.00 lakhs and such
loans would be eligible for an interest subsidy at the rate of 6.5% for tenure

of 15 years.
b. Any additional loans beyond Rs.6.00 lakhs will be at non subsidized rate.
Interest subsidy will be credited upfront to the loan account of beneficiaries
through lending institutions resulting in reduced effective housing loan and
Equated Monthly Installment (EMI)
Example:

 If the borrower avails a loan for Rs. 6.00 lakhs and subsidy thereon works
out to Rs. 2.20 lakhs, the amount (Rs. 2.20 lakhs) would be reduced upfront
from the loan (i.e., the loan would reduce to Rs. 3.80 lakhs) and the
borrower would pay EMIs on the reduced amount of Rs. 3.80 lakhs only.

Process of Application:

 Applicant shall filled the prescribed application format available in


[Link] and register the same application in any
Mee Seva Centres in GVMC limits by paying Rs.50/- towards registration
fee.

Who are eligible to apply:-

 Homeless people who are residing in GVMC limits from EWS/LIG category.

House loan limit:

 Loans to individuals upto Rs.28 Lacs.

Advantages of this scheme:-( No such provision in previous housing schemes)

 LIG category people are also eligible under this scheme.


 Credit limit of Rs.28 lakhs
 Upfront interest subsidy worth of Rs.2.20 lakhs
 Multiple options in housing such as new construction, incremental housing
and house purchase.
 No processing charges to the beneficiaries for sanction of loan.

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