How much time it takes to get PMAY subsidy?

Under the Pradhan Mantri Yojana scheme, the eligible applicants from EWS and Lower Income Group, Middle Income Group-1 and Middle Income Group-2 will get the subsidy on interest amount while applying for home loan. The government has named this component Credit Linked Subsidy Scheme (CLSS). I see that you want to know how much time it takes to get PMAY subsidy.

The reason for this time frame is that it takes a while to verify all the information and documentation provided by the applicant. The subsidy is released only after ensuring that the application is genuine and all the documents are correct. So the verification takes a little while and hence the timeline is close to 3 or 4 months.

Now that you know how much time it takes for PMAY subsidy, let us look at how to avail the subsidy given by the central government.

• After filling the home loan application form, you must download the ‘Self Declaration Form’ from the official website of the bank or lender.
• Fill the details such as name, parents’ name, age, address, your category, details about family members, Aadhaar Number, Annual Income, etc.
• Now take a print out of the filled application and submit it at the nearest bank branch.
• Take your documents along with you for verification purposes.

After you submit all these documents, the verification process will begin. The lenders have to verify thousands of applications. Thus, how much time it takes to get PMAY subsidy? 3-4 months.

I definitely praise our government for creating so many schemes for the betterment of the people. Last month our gardener seemed quite happy since he was going to have his own house. I wondered how he was going to have a house since he doesn't have enough money but my mother said that he has availed the PMAY scheme so he knew that he is going to construct a house soon. I asked my mother

how much time it takes to get PMAY subsidy after application ID generated , to which she said that he needs to check first whether his subsidy has been approved or not first. The task is not very easy but if you have availed the scheme and want to know these details, I can help you.

How much time pmay subsidy takes?

As Narayandas Ji said, it is going to take about 3 to 4 months to get it but before that, you have to check whether your application got approved or not. To check your status, visit its official website or click on:

• Click on “Citizen Assessment”

• Then select” Track your Assessment status”

• Click on “Track Application Status” next

• Choose By name/father’s name & mobile number or Assessment ID and get to know the status.

After getting to know the status, be sure that it will take a maximum of 4 months to get the subsidy. I hope this answers your query: PMAY how much time it takes to give you the subsidy.

If you are yet to avail the scheme, do it. It really helps the Middle Income Groups, Economically Weaker Section and Lower Income Groups to have a house. 

This is all I can say to answer how much time it takes to get PMAY subsidy after application id generated.

As Mr. Narayandas mentioned, to answer your question, Gajraj, you will have to wait for months for a PMAY subsidy claim. In fact the realistic timeline in my experience is 2 months to 6 months, sometimes even more. That’s the reality and I can say this is how much time it takes to get PMAY subsidy. 

Although the scheme has now expired and there is no extension expected on it, no new applications are being accepted under PMAY. Your answers on how much time it takes to get PMAY subsidy after subsidy claim approved depend on the two main subsidy disbursal agencies - National Housing Bank and Housing and Urban Development Corporation Limited. 

When I enquired about how many days it will take to get PMAY subsidy, the officials told me that an advanced subsidy will be disbursed at the beginning of the scheme. Once the 70% of that subsidy amount is utilised, I will get the rest of it. 

There are two stages of the subsidy claim process:

1. Subsidy claim approved: This means that your application for CLSS has been approved for subsidy claim

2. Subsidy transferred to PLI: This means that the 2 agencies that I just told you about have conducted their due diligence and have released your subsidy to your primary lending institution.

Anyway, I hope your questions around how much time it takes for PMAY approval are now answered with valid reasoning.

I calculated my Home Loan EMI conveniently using the NoBroker EMI calculator to have an idea about my monthly expenses based on it.

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