Friday, 25 November 2016

Credit Linked Subsidy Scheme - Application Forms | CLSS-PMAY

(CLSS) Credit Linked Subsidy Scheme Application Forms - Eligibility Criteria | CLSS Subsidy Scheme | Guidelines under Pradhan Mantri Awas Yojana

Credit Linked Subsidy Scheme (CLSS) is scheme to expand the flow of housing across the nations for needy urban people like EWS/LIG who are unable to buy or to construction house at their own. Credit Linked Subsidy Scheme will help them to construct a new house or repairing their old one.

Credit Linked Subsidy Scheme (CLSS)

Under CLSS-PMAY, beneficiaries from EWS (Economical Weaker Section, LIG (Lower Income Group) will be able to get housing loan from Banks, Housing Finance Companies and other Financing Institutions. And the housing loan will be provided at the interest subsidy rate of 6.5 percent for a tenure of 15 years or a lower period.

The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
CLSS-PMAY (Credit Linked Subsidy) will only be available on the loan amount of upto Rs. 6.0 lakh and bigger loans extended from amount Rs. 6.0 lakh will not be subsidized under the scheme.

The interest subsidy of credited amount will be directed transferred to the loan account through lending institutions which will further help in reducing effectiveness of housing loan and Equated Monthly Instalment (EMI).

Beneficiary can avail the benefits of Credit Linked Subsidy Scheme by taking a home loans for addition of rooms, kitchen, toilet etc. to existing houses and for increasing the area of their housing and acquiring a new house.

Under Credit Linked Subsidy, the carpet area of houses being constructed under the CLSS component of Pradhan Mantri Awas Yojana should be upto 30 square meter for EWS category and 60 square meter for LIG category, only then the beneficiary will be able to get benefit of subsidy under CLSS.

The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.

Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) are selected as the Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the complete progress of the component. Ministry may notify other institutions as CNA in future.

Under the Mission, beneficiaries can take advantage under one component only.

Credit Linked Subsidy Scheme (CLSS) Toll-Free Helpline Numbers

NHB: 1800-11-3377 & 1800-11-3388
HUDCO: 1800-11-6163

List of Primary Lending Institutions (PLIs) who have signed the MoUs with Central Nodal Agencies (CNAs) as on 31-08-2016 can be download by following the link below:

Download List of Primary Lending Institutions 

Calculate Net Present Value (NPV) Subsidy by using the calculator linked below:

Calculate Net Present Value (NPV) Subsidy

Application Forms will be Available in the Primary Lending Institutions (PLIs) and the list of Primary Lending Institutions (PLIs) is available in the link above.

Information Source:


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