PMAY-CLSS Financial Bifurcation
PMAY - URBAN (PMAY-U)
- Aims to assist slum dwellers residing in small area with more than 300 people and round 60-70 families, live in congested lodging and does not have proper sanitary benefits
- Through Public Private synergy aims at providing affordable homes, provides grant up-to Rs. 150,000 for economic weaker sections
- Provides subsidy if individual house enhancement or construction led by beneficiary up-to Rs. 150,000 for economic weaker sections
- Slum rehabilitation in synergy with private property developers for economical weaker sections gets grant of Rs. 100,000 per house
- CLSS an abbreviation for Credit Link Subsidy Scheme, it’s a scheme for development of affordable homes for economically weaker segments and LIG segments can borrow from Banks / NBFCs / Other institutions for new construction of home or for enhancement of existing home. Grant of Rs. 600,000 at 6.5% subsidy for max 20 years loan duration
- For more information – National Housing Bank or PMAY-CLSS Awas Portal
PMAY - GRAMIN (PMAY-G)
- It covers approximately one crore households that are currently in a kutcha state. The minimum size of the house constructed under Pradhan Mantri Awas Yojana (Gramin) is 25 sq.m. It also extends financial assistance to those who are residing Below Poverty Line (BPL) in order to help them build these houses
- House in plain areas, gets grant of Rs. 120,000
- Houses in uneven terrains, hill states or inaccessible area, gets grant of Rs.130,000
- Under Swachh Bharat programme (SBM) and MRNREGS, gets grant of Rs. 12,000 and up-to 90/95 days un-skilled labour cost
- Grant for loan amount of Rs. 600,000 at 6% interest rate and if loan amount is less than Rs. 2,00,000 then 3% as an interest rate. In case loan exceeds Rs. 600,000 then prevailing market interest rate will be applicable
- The permissible unit size under PMAY-G is 25 sq.m. Individual Below Poverty Line can also avail grant under PMAY-G to build home
PMAY Programme Specific
PMAY-U aims at servicing Urban weaker section with affordable homes
- Slum rehabilitation in synergy with private property developers
- Provides subsidy if individual house enhancement or construction led by beneficiary
- CLSS an abbreviation for Credit Link Subsidy Scheme, it’s a scheme for development of affordable homes for economically weaker segments
- Through Public Private synergy aims at providing affordable homes
How to Apply for PMAY?
- PMAY-G - Beneficiaries are selected through data available under SECC 2011 – Socio-Economic & caste census conducted to capture details of weaker section of India. The final list will be short-listed by Gram Sabha
PMAY-G aim at servicing rural weaker section staying in derelict homes or they do not have house
- Aims to get a Pucca house to the needy.
- Scheme aims to deliver by year 2022.
PMAY Urban - Eligibility Criteria
| Details | EWS / LIG | MIG-1 | MIG-2 |
|---|---|---|---|
| Annual Household Income | >=600,000 | 6 to 12 Lakh | 12 to 18 Lak |
| Max Loan Tenure | 20 Yrs | 20 Yrs | 20 Yrs |
| Max Loan Amount | 6 Lakh | 9 Lakh | 12 Lak |
| Rate Subsidy | 6.50% | 4.00% | 3.00% |
| Max Carpet Area | 60 sq. mtr | 160 sq. mtr | 200 sq. mtr |
| Discount % for calculating NPV | 9% | 9%> | 9% |
| Max Interest Subsidy | Rs. 2.67 Lakh | Rs. 2.35 Lakh | Rs. 2.3 Lakh |
| Women Ownership | Mandatory | Non-Mandatory | Non-Mandatory |
| Loan Purpose | New home purchase / Self-Construction / Extension | New home purchase / Self-Construction | New home purchase / Self-Construction |
| Validity | 31st March 2022 | 31st March 2020 | 31st March 2020 |
| Locations | 17,778 Towns | Urban 2011 | Urban 2011 |