The "Credit Linked Subsidy Scheme” (CLSS) under Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. Under this scheme, interest subsidy on purchase or construction or extension or improvement of a house is provided to customers belonging to the Economical Weaker Section (EWS) or Lower Income Group (LIG) or Middle Income Group (MIG). In order to be eligible, the beneficiary family should not have received any central assistance under the “Housing for all by 2022” mission.
A beneficiary is defined as:
- A family comprising of husband, wife and unmarried children.
- Beneficiary can also be an unmarried individual, earning member of the family (only for MIG scheme).
- Beneficiary should not own a pucca house either in his or her name or in the name of any member of his or her family in any part of India.
- Beneficiary should not have received central assistance under the CLSS scheme.
- Beneficiary should meet the income criteria defined as per various categories under the scheme.