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  • Features of PMAY Scheme at A Glance

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    1) The document outlines the key parameters of the Pradhan Mantri Awas Yojana (PMAY) housing scheme, including eligibility criteria for different components. 2) It details the maximum household income, house size, loan amount, subsidy amount, and interest rates for the CLSS for EWS/LIG, CLSS for MIG-I, and CLSS for MIG-II components. 3) The scheme aims to provide housing for various income segments - economically weaker sections, low income groups, and middle income groups - in statutory towns across India.

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    Features of PMAY System

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    Features-of-PMAY-Scheme-at-Glance

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    1) The document outlines the key parameters of the Pradhan Mantri Awas Yojana (PMAY) housing scheme, including eligibility criteria for different components. 2) It details the maximum household income, house size, loan amount, subsidy amount, and interest rates for the CLSS for EWS/LIG, CLSS for MIG-I, and CLSS for MIG-II components. 3) The scheme aims to provide housing for various income segments - economically weaker sections, low income groups, and middle income groups - in statutory towns across India.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    27 views3 pages

    Features of PMAY Scheme at A Glance

    Uploaded by

    Nike
    1) The document outlines the key parameters of the Pradhan Mantri Awas Yojana (PMAY) housing scheme, including eligibility criteria for different components. 2) It details the maximum household income, house size, loan amount, subsidy amount, and interest rates for the CLSS for EWS/LIG, CLSS for MIG-I, and CLSS for MIG-II components. 3) The scheme aims to provide housing for various income segments - economically weaker sections, low income groups, and middle income groups - in statutory towns across India.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 3

    Features of PMAY Scheme at a Glance

    Scheme Parameters PMAY-CLSS New Schemes


    Existing Instructions Revised CLSS for MIG
    Instructions
    Name of the CLSS CLSS for EWS/LIG CLSS (MIG-I) CLSS (MIG-II)
    Scheme
    Maximum Household Upto Rs. 3 Lacs for No change Above Rs. 6 Lacs & Above Rs. 12 Lacs &
    Income Per Annum EWS & upto Rs. 6 upto Rs. 12 Lacs upto Rs. 18 Lacs
    Lacs for LIG
    Maximum Carpet 30 sq. mtr. For EWS & No Change Upto 90 sq. mtr. (No Upto 110 sq. mtr. (No
    Area of the House 60 sq. mtr for LIG relaxation permitted) relaxation permitted)
    (A bigger carpet area
    may be considered in
    case of construction
    /acquisition of new
    house/flat but not in
    case of loan for
    repairs/renovation)
    Ownership of the Women must be No Change No such clause
    Property sole/co-owner in the (property may be
    property ( except in owned by any adult
    case of consruction of member of the family
    house on existing plot) irrespective of the
    gender)
    Maximum Loan Upto Rs. 6 Lacs No Change Upto Rs. 9 Lacs Upto Rs. 12 Lacs
    Amount eligible for
    subsidy*
    *However, Home Loan for higher amount may be granted as per the Banks’s extant Home Loan scheme
    Subsidy Percentage 6.50% No change 4% 3%
    Maximum Tenor of 15 Yrs 20 Yrs 20 Yrs 20 Yrs
    the Loan on which
    subsidy will be
    calculated
    Maximum Subsidy Rs. 2.20 Lacs Rs. 2.68 Lacs Rs. 2.35 Lacs Rs. 2.30 Lacs
    Amount Payable
    Processing fee Waived for the No Change Waived for the Waived for the
    borrower upto borrower upto borrower upto
    Maximum Loan Maximum Loan Maximum Loan
    amount eligible for amount eligible for amount eligible for
    subsidy subsidy subsidy
    Interest Rate Applicable Card Rate No Change Applicable Card Rate Applicable Card Rate
    Validity of the 17.06.2015 to 01.01.2017 to 01.01.2017 to 01.01.2017 to
    Scheme on Loan 31.12.2016 31.03.2022 31.12.2017 31.12.2017
    sanctioned between
    Margin As per Bank Guidelines
    Pre-Payment Nil
    Charges
    Beneficiary Family A beneficiary family will comprise of husband, wife, unmarried sons and / or unmarried
    daughters. The beneficiary family should not own a pucca house (an all-weather dwelling unit)
    either in his/her name or in the name of any member of his/her family in any part of India.
    Further, Beneficiary family should not have availed of central assistance under any housing
    scheme from Government of India.

    An adult earning member (irrespective of marital status) can be treated as a separate


    household:-

    Provided that he / she does not own a pucca (an all-weather dwelling unit) house in his / her
    name or in the name of any member of his / her family in any part of India.
    Provided also that in case of a married couple, either of the spouses or both together in joint
    ownership will be eligible for a single house, subject to income eligibility of the household under
    the scheme.
    Coverage All statutory towns as per Census 2011 and towns notified subsequently will be eligible for coverage
    under the scheme.

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