Pradhan
Mantri Awas Yojana - Housing for all, is an initiative launched by
the Government of India wherein, affordable housing will be provided
to the urban poor of the country. The scheme itself has various
components of which, the Credit Linked Subsidy Scheme is the most
popular. Under this scheme, beneficiaries can avail a subsidy on the
interest component of a home loan of up to Rs.2.67 lakh.
However,
before you get too excited, there are a few things that you need to
consider first. For instance, the scheme is directed primarily
towards the people belonging to the Lower
Income Groups
(LIG), Middle
Income Groups
(MIG), and Economically
Weaker Sections (EWS).
Furthermore,
there are three
prerequisites
that have to be fulfilled before you commence your application to
avail the benefits of the CLSS. They are:
-
You or your family should not own an all-weather house in any part of the country.
-
You or your family should not have taken assistance from the Central Government for any housing scheme or applied for the benefits under the PMAY.
-
In case you are married, you and your spouse will be eligible for a single subsidy, irrespective of the ownership status of the house.
After
fulfilling these three conditions, the next thing that you need to
consider is the income
criteria.
The maximum interest subsidy that can be availed depends on the
annual income of the applicant and the category to which they belong.
-
The cap on annual income for those belonging to the EWS and LIG is Rs.6 lakh.
-
For the MIG 1 category, the maximum household income should not be more than Rs.12 lakh.
-
For the MIG 2 category, the maximum household income should not exceed Rs.18 lakh.
In
addition to these, factors like maximum loan amount, maximum carpet
area, et cetera, are also taken into consideration when it comes to
Credit Linked Subsidy Scheme. This has been explained in the table
mentioned below:
|
Category
|
Maximum
Carpet Area (in Square Metres)
|
Interest
Subsidy (%)
|
Maximum
Loan Amount Considered for Subsidy Calculation, in Rupees
|
Maximum
Subsidy, in Rupees
|
|
EWS
and LIG
|
60
sq. mt.
|
6.50%
|
Rs.6
lakh
|
Rs.2.67
lakh
|
|
MIG
1
|
120
sq. mt.
|
4.00%
|
Rs.9
lakh
|
Rs.2.35
lakh
|
|
MIG
2
|
150
sq. mt.
|
3.00%
|
Rs.12
lakh
|
Rs.2.30
lakh
|
Under
the scheme, all the Statutory Towns are covered as per the 2011
Census, along with subsequently notified towns. Regardless of where
you live in India, you will be able to avail the benefits of the
Credit Linked Subsidy Scheme, provided you meet the aforementioned
criteria.
The
home
loan under the CLSS can be taken for any housing purpose -
purchase, construction or enhancement of an existing house. The
interest subsidy is calculated only on the maximum home loan amount
mentioned for the specific categories and is valid for the duration
of your entire tenure. For any home loan taken beyond the specified
limits, non-subsidised interest rates will be levied.
More
details about the PMAY and the CLSS can be found on the official
website of the scheme.
No comments:
Post a Comment