Affordable Housing - PMAY

Housing for All"

Mission for urban area has been implemented with effect from 17.06.2015 to provide central assistance to implementing agencies. The Credit Linked Subsidy Scheme is being offered under this mission.

For Middle Income Group(MIG), the interest subsidy will be provided on housing loans for acquisition/construction of houses (including repurchase).

For Economically Weaker Section(EWS)/Lower Income Group(LIG), the interest subsidy will be provided on housing loans for acquisition, construction of house. The Credit Linked subsidy would also be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing.

The interest subsidy benefit will be upfront on the principal outstanding.

The availability and amount of interest subsidy is subject to meeting income criteria as per various categories under the scheme.

Beneficiary

• A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughters.
• An adult earning member (irrespective of marital status) can be treated as a separate household

Key Parameters*

Particulars	EWS	LIG	MIG I	MIG II
Household Income (Rs. p.a)	0-3,00,000	3,00,001-6,00,000	6,00,001-12,00,000	12,00,001-18,00,000
Eligible Housing Loan Amount for Interest Subsidy (Rs.)	Up to 6,00,000	Up to 6,00,000	Up to 9,00,000	Up to 12,00,000
Interest Subsidy (% p.a.)	6.50%	6.50%	4.00%	3.00%
Maximum loan tenure (in years)	20	20	20	20
Maximum dwelling unit carpet area	30 Sq. m.	60 Sq. m.	160 Sq. m.	200 Sq. m.
Discount Rate for Net Present Value (NPV) calculation of interest subsidy (%)	9.00%	9.00%	9.00%	9.00%
Max. Interest Subsidy Amount (Rs.)	2,67,280	2,67,280	2,35,068	2,30,156
Lump sum amount paid per sanctioned to PLIs in lieu of Processing Fee (Rs.) to the extent of loan amount on which subsidy is applicable.	3000	3000	2,000	2,000
Application of scheme on existing home loans sanctioned on or after	17.06.2015		01.01.2017
Applicability of No Pucca House	Not for renovation/upgradation		Yes	Yes
Woman Ownership/Co-ownership	Mandatory for new acquisition, Not mandatory for existing property		Not mandatory	Not mandatory
Quality of House/Flat Construction	National Building Code, BIS Codes and as per NDMA Guidelines adopted
Approvals for the Building Design	Compulsory