Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS)
You are at most wonderful moment of your life to buy a happy home for your loved family. Thousands of people like you are taking benefit of low prices in real estate. You can too use this opportunity to make intelligent move with buying your dream house at amazing low price. Added incentive is PMAY CLSS along with Tax benefits offered on repayment of home loan EMI for principle and interest component both.
If you are buying first house and your household income is below 18 Lakhs rupees yearly, You can get benefit under PMAY CLSS. Buying a house for your family through PMAY CLSS gets you huge difference for period of you home loan repayment. For home buyers like you, this is “Must know” real money saving fact. Go through complete facts and details about PMAY CLSS. Find answer of all your question for “what and how” about PMAY CLSS. Discover incredible benefits this place has to reveal.
With fascinating and magnetizing subsidy under PMAY CLSS you get 2.67 Lakhs credited direct in your loan account. PLUS you get tax benefit under section 80C up to 1.5 Lakhs and U/S 24 up to 2L EVERY YEAR
Submit your details right now to save thousands every month in you home loan EMI. To make these substantial savings, your immediate response is required. You gets express fast excellent service and free consultation on home loan with PMAY CLSS. Get loan from leading names in home loan industry. To get trouble free home loan at unbeatable rate of interest in along with PMAY CLSS benefit submit your details immediately
You risk nothing when you send your details to us. Our fast service, free consultation and high speed home loan disbursal are good reason to send your name right now. It takes just few seconds, it’s that easy. Don’t miss out send your name quickly to unlock amazing home loan offers you won’t get anywhere else along with PMAY CLSS benefits.
Joy Loan for your home loan with PMAY CLSS
Trust me, you don’t deserve so much trouble to live your dream. Because you are about to discover easiest way to get home loan with benefit of PMAY CLSS When you apply home loan through us, you are benefitted by our knowledge.
We deals with major housing finance companies, banks and financial institutions which are listed with CNA to channelize PMAY CLSS. When you choose us for your home loan, we do comprehensive study of your profile and type of property you are buying. The home you are buying may have technical issue, like without map property, LAL Dora property or even Unapproved Area (With Sale Deed). We can get you home loan on all such property types from leading housing finance companies through our coordination along with benefit of PMAY CLSS.
Moreover we can get you home loan on all different type of incomes based on satisfactory assessment. You can get home loan without income proof or on basis on liquid income assessment if ITR is filed lower then income. In all these income and property type we gets you low interest rate from most economical institution. Low home loan rate of interest Along with PMAY CLSS makes your home loan most economical.
Following are few of benefits, to apply PMAY CLSS home loan through us
• Coordination from all leading banks and financial institutions
• You sit back and relax with our door step service
• Home loan with PMAY CLSS on without income proof / Liquid income assessement
• Home loan with PMAY CLSS on without map, Lal dora, unauthorized colony (with sale deed)
When you choose us you gets a dedicated & professional resource for your home loan. A dedicated qualified experienced manager specially assigned to you who will do complete analysis of your home loan requirement. Our Managers has high experience in helping people like you to make entire home loan process simplified, effortless, error proof.
As we deals with all major banks, We picks fascinating offers that gives you huge saving in your home loan EMI add to this PMAY CLSS reduces your repayment tenure drastically. We do everything to maximize your saving and reduce your initial cost.
Simply fill your details. We will do all this for you. We will provide “Door Step Service” from comfort of your home or office” So you can enjoy your time with family
If you want to take competitive edge of an experienced, and professional partner your immediate response is require. Submit your details immediately.
PMAY HFA(U) Scheme Details
PMAY HFA(U) was started with vision of every family of economically weaker section, low and middle income group to have all weather (pucca) house with all basic amenities like water connection, toilet and electricity. PMAY HFA(U) is to benefit first time home buyer family which does not have a pucca house anywhere in India. A beneficiary family in this scheme means husband, wife and unmarried children.
I have provided in depth, extremely informative, detailed analysis and complete facts for PMAY CLSS. You can learn comprehensive, insightful description about benefits and process of PMAY CLSS. With PMAY CLSS home loan effective rate of interest can be as low as 1.85% yearly. Availability of many affordable houses and PMAY CLSS subsidy makes buying home for your family more appealing. You gets fascinating effective rate of interest on your home loan. Good thing is you gets your PMAY CLSS subsidy up to 2.67 Lakhs credited right in your loan account effectively reducing your home loan repayment tenure to approximately 50%
No doubt PMAY CLSS is boon for first time home buyers, but entire process is complicated and takes 5-6 months to get your subsidy with complete follow-up.
Details of PMAY CLSS Subsidy Benefits
PMAY CLSS will be provided on home loans taken by eligible families (EWS / LIG / MIG1 / MIG2) for acquisition, construction or expansion of house. Following are benefits of PMAY CLSS
• Low effective rate of interest on home loan
• Subsidy up to 6.5% on home loan interest
• One time subsidy of 20 years credited in your loan account.
Eligibility for PMAY – CLSS
To be eligible under PMAY CLSS you should be first time home buyer family, which does not have a pucca house anywhere in India. A family in this scheme means husband, wife and unmarried children.
If you fulfills condition of income and property size (as explained below), you are eligible to get Credit link interest subsidy under PMAY. Important eligibility criteria is, property should be brought in name of female head your family or in the joint name of the male head. Only in cases when there is no adult female member your fam¬ily, the house purchased in male member name can be eligible for PMAY CLSS
Apart from amount of subsidy offered based on family income, there is also eligibility guidance for size property as below
• EWS up to 30 Square meters
• LIG up to 60 Square meters
• MIG1 – up to 90 square meters
• MIG2 – up to 110 square meters
You family can build a house of larger area but eligibility for interest subvention would be limited to cost of approved size and amount
Calculation of Interest and Home Loan EMI reduction under PMAY CLSS
Click here to download HUDCO– CLSS-Subsidy Calculator in excel form.
This is latest calculator currently being used by them (Download). In this calculator you can do exact calculation for benefit of subsidy you can get in PMAY CLSS. In this calculator you a different page is built for EWS, LIG, MIG1 and MIG 2 respectively. In this calculator you have to make entry on your relevant page. On Calculator you have to make few simple entries like, loan amount, loan tenure and rate of interest. Option of disbursement in installments is also given in this PMAY CLSS calculator
Depending on your income group and size of house you buy, you will be eligible up to 6.5% interest subsidy under PMAY – CLSS
Following are income slab and interest subsidy slab
• EWS (Income Up to 3 Lakhs): 6.5% subsidy on up to 6 Lakhs loan
• LIG (Income between 3 Lakhs – 6 Lakhs): 6.5% subsidy on up to 6 Lakhs loan
• MIG1- (Income between 6 Lakhs – 12 Lakhs): 4% subsidy on up to 9 Lakhs loan
• MIG2- (Income between 12 Lakhs – 18 Lakhs): 3% subsidy on up to 12 Lakhs loan
The interest subsidy is calculated at 9% NPV over a maximum loan tenure of 20 years or the actual tenure, whichever is lesser. Home loan above given above income wise slab are non-subsidized
Snapshot of process in PMAY CLSS
To get PMAY CLSS from Government of India, your application is processed by CNA (Either HUDCO or NHB). If you are entitled, you are required to apply for PMAY CLSS through PLI with self-certificate/affidavit for income with Format A and B of Annexure 4 Para 8.3 of guidelines.
Then CNAs, on behalf of PLIs, would send your application under CLSS to concerned States/UTs. Concerned States / UTs will consider your application. They will confirm to CNA, if you have / have not availed any benefit under PMAY – HFA(U) under other three verticals of the Scheme (Slum redevelopment / Affordable housing through builder / Subsidy for beneficiary led individual house construction or enhancement). State /UT of your native district also need to confirm from local revenue record, that no house is already owned by your family as per their property registration records.
For a home buyer like you, applying for PMAY CLSS and getting it past the finish line is really challenging. At the first place it is difficult to know, how to apply PMAY CLSS. Second it is hard to spare enough time.
How PMAY CLSS is processed?
I have listed following abbreviation which are relevant to this page apart from chart as below
PLI: Primary Lending Institutions
CNA: Central Nodal Agencies
EWS: Economically Weaker Section
LIG: Low Income Group
MIG: Medium Income Group
CLSS: Credit Linked Subsidy Scheme
NHB: National Housing Bank
HUDCO: Housing and Urban Development Corporation
PMAY: Pradhan Mantri Awas Yojana
PMAY– HFA(U): Pradhan Mantri Awas Yojana – Hous¬ing for All (Urban)
How to apply for PMAY CLSS
When you apply, you need to provide self-certificate / affidavit for income with Format A and B of Annexure 4 Para 8.3 of guidelines. To apply in this process, you should be linked to Aadhaar/Voter ID Card/Any other unique identification Number or a certificate of house ownership from Revenue Authority of your native district.
To get PMAY CLSS benefit, you should apply with PLI. (PLI): Scheduled Commercial Banks, Housing Finance Companies. PLIs can register only with one CAN. HUDCO and National Housing Bank (NHB) have been identified as Central Nodal Agencies (CNAs) to channelize PMAY CLSS subsidy to the lending institutions.
State/UTs/ULBs/ PLIs links beneficiary identification to Aadhaar, Voter card, any other unique identification or a certificate of house ownership from Revenue Authority of Beneficiary’s native district to avoid duplication. Preference under the Scheme, is given applicant from Manual Scavengers, Women (with overriding preference to widows), persons belonging to Scheduled Castes/Scheduled Tribes/Other Backward Classes, Minorities, Persons with disabilities and Transgender. State Level Nodal Agency (SLNA) facilitates the identified eligible beneficiaries in getting approvals and documents, etc. to avail of credit linked subsidy.
CNAs, on behalf of PLIs sends list of beneficiaries under CLSS to concerned States/UTs. Concerned States / UTs monitors this list, while deciding beneficiaries under other three verticals of the PMAY (Slum redevelopment / Affordable housing through builder / Subsidy for beneficiary led individual house construction or enhancement), so that no beneficiary can apply more than one benefit under the Mission.
To assist you to apply, I have listed official contact details that can help
How to get PMAY CLSS
There is huge process involved with PMAY CLSS, but buying your dream house with PMAY CLSS doesn’t have to be difficult. To make it super simple, you can get in touch with us for your home loan. We deals with major companies which are listed with CNA to channelize PMAY CLSS.
It removes pain factor from your home loan and PMAY CLSS. You can simply rely on us because, before we finalize any home loan option for you, we do complete analysis of your profile and property you are buying. Based on comprehensive and extensive study we offer you most economical and best home loan option that offers PMAY CLSS subsidy too.
When you apply your home loan through us, you gets your CLSS automatically credited direct to your loan account. You gets more amazing benefits, when you get your home loan through us. You get solution of home loan on vast property types as we deals with leading financial institutions for your home loan. Few property and income type we deals are mentioned below
• Home Loan on without map property
• Home loan in Lal Dora,
• Home loan in unapproved colony (With sale deed only)
• Home loan on double / Triple / Multiple units on same floor
• Plot purchase loan (Approved / Unapproved / Lal Dora)
• Construction loan (Approved / Unapproved / Lal Dora)
• Expansion / extension / renovation loan
• Liquid Income assessment (Low ITR)
• No income proof
Most bank and financial institutions have kept many areas in negative list for home loan. With us you can get home loan on many challenging property or income types for small one time advisory fee. This onetime fee is fraction of price, get you home loan effortlessly ensuring most profitable deals available for you along with PMAY CLSS.
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Take advantage of affordable rate of interest by choosing us. Many financial institution charge you high rate of interest with high processing fee. Take action now to get unique offer for your home loan. Cut cost of your EMI with our competitive edge. Stop wasting time to get competitive edge of our knowledge and services. Submit your name right now.
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We can easily get you home from mainstream banks / financial institutions with PMAY CLSS. You can save your time with our amazing door step service. You can get expert advice and remarkable savings effortlessly. All you need to do is submit your details with us.
We will get you amazing reduced rates that will save you money. So if you want to save thousands every month, send your name for no obligation quotes and expert advice. Our simplified process save you lot of time and money as well. Our first class exceptional service is like no other.
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