Pradhan Mantri Awas Yojna – CLSS Tracker
Credit Link Subsidy Scheme (CLSS) is the most popular upright of Pradhan Mantri Awas Yojna – Urban (PMAY-U) by the Government of India specially designed for subsidy on interest on home loans, one can track his subsidy on below link on CLSS tracker. This scheme is designed for Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group -1 & Middle Income Group -2 for the purchase or re purchase or construction of new home and also for incremental housing.
PMAY CLSS subsidy scheme was implemented by Ministry of Housing and Urban Affairs (MoHUA) which was started on 25th June 2015. The mission of this scheme was designed for shortage of urban housing among the EWS/LIG & MIG categories to all urban area households for the year 2022, when India completes 75 Years of its freedom. The scheme encourages women empowerment by giving the ownership of the houses in the name of female member or joint name.
The period for Economically Weaker Section (EWS) & Low Income Group (LIG) scheme was 17th June 2015 to 31st March 2022 and for Middle Income Group -1 & Middle Income Group -2 was 1st January 2017 to 31st March 2021.
In this scheme the interest is credited to home loan account of the beneficiary with the help of Prime Lending Institutions (Banks and Financial Institutions). So it will help to reduce the effect on home loan Equated Monthly Installment (EMI). Also the Net Present Value of the interest subsidy is calculated at a discounted rate of nine percent.
How to track or check status of PMAY CLSS Subsidy Scheme ?
- CLSS tracker click here
- Click on CLSS Tracker
- Enter your Application ID
- Click on Get Status
How to check PMAY CLSS Subsidy Amount on your loan amount ?
- Click here
- Enter your Annual Family Income, Loan Amount, Loan Tenure & select the correct answer of asked questions.
How to view or download PMAY CLSS Awas Portal (CLAP)
How to view or download PMAY CLSS Subsidy News Letters
PMAY (U) CLSS Scheme adopts very unique approach to suit the needs of individuals based on the geographical conditions, topography, economic conditions, availability of land, infrastructure etc. The Credit Link subsidy is available only for loan amounts up to Rupees 6 Lakhs, will be at non-subsidized rate. The Credit Link subsidy is available for home loans taken for new construction and addition of rooms, kitchen, toilet, etc. to existing dwellings as incremental housing. Here the interest subvention would be limited to first Rupees 6 Lakhs only.
Credit Linked Subsidy Scheme for EWS/LIG
Beneficiaries of Economically weaker section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Non Banking Financial Corporations and other such institutions are eligible for interest subsidy at the rate of 6.5% for 20 years term or during the term of loan whichever is lower.
Credit Linked Subsidy Scheme for MIG
The CLSS for MIG covers two income segments in the MIG viz. Rs.6,00,001 to Rs.12,00,000 (MIG-I) and Rs.12,00,001 to Rs.18,00,000 (MIG-II) per annum. In MIG-I, interest subsidy of 4% has been provided for loan amounts up to Rs.9 lakh while in MIG-II, interest subsidy of 3% has been provided for loan amounts up to Rs.12 lakh. The interest subsidy is calculated at 9% NPV over maximum loan tenure of 20 years or the actual tenure, whichever is lower. Housing loans above Rs.9 lakh and Rs.12 lakh will be at non-subsidized rates.
We have taken most of the sources from the Government web site https://pmayuclap.gov.in because the topic demands information from official Government web site only.
In case of any queries please fill the details box as below.