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What is CLSS PMAY?

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0 2022-05-16T12:24:42+00:00
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Building a house has never been easy especially for the weaker section of the society. There have been many benefits and aids provided by the government to help the economically weaker section, and one of such aids or schemes is CLSS. PMAY CLSS means or refers to a scheme that falls under Pradhan Mantri Awas Yojana which focuses upon helping the middle class, economically weaker class and even lower income earners to opt for housing loan and get a relaxation on EMIs by a minimum Rs 2000. 

What is CLSS PMAY benefits?

The sole aim of this scheme is to let people build their own houses. After knowing what is pmay clss, you should also know the benefits it provides. Sometimes the interest rate becomes so high that people fail to apply for a loan thinking that they might not be able to pay such a huge amount monthly that also within a stipulated time. But on availing this scheme, the interest rate goes down quite a lot thereby providing people with the courage to build a house. Home buyers can get an interest rate of 6.5% for a period of 20 years or for the entire tenor of the home loan, whichever suits them better. This rate might vary as per the income of an individual.

Who are eligible for CLSS PMAY?

To get the CLSS PMAY benefits, an individual must fall under nay of the three categories which are:

  • Economically weaker section who have an annual income between Rs 3 Lakh to Rs 6 Lakh

  • Middle Income Group I having an annual income within Rs 6 Lakh to Rs 12 Lakh

  • Middle Income Group II having an annual income within Rs 12 Lakh to Rs 18 Lakh

Avail NoBroker Home Loans with the minimum interest rate possible.

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I hope now you are clear about what pmay clss means

Read More:

How Can I Apply For PMAY Scheme?

Can I Apply For PMAY Subsidy?

Can I Reduce EMI From PMAY Subsidy?

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