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Who is eligible for home loan subsidy?

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0 2024-04-30T12:07:54+00:00
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Last year when I was trying to avail a home loan, a friend of mine suggested that I go for the Pradhan Mantri Awas Yojana home loan. He informed me that this scheme has been introduced by the Government of India to help the needful. Following this, I asked him about the Pradhan Mantri Awas Yojana home loan eligibility. Here is what he told me. 

What is the Home Loan Subsidy Eligibility?

He told me that there are a few conditions that I need to meet for the PM subsidy home loan eligibility. 

  • I shouldn’t own a pucca house in my name or anyone in my family. 

  • I shouldn't have availed central assistance under any housing scheme for Govt. of India/ State Govt. 

  • I shouldn’t have availed PMAY - CLSS subsidy from any primary lending Institutions. 

He also told me about the home loan subsidy scheme eligibility based on income. Here are details below. 

Economic Section Annual Family Income Maximum Carpet Area

EWS

Up to Rs. 3 Lakhs

30 sq m

LIG

Rs. 3 Lakhs to Rs. 6 Lakhs

60 sq m

MIG I

Rs. 6 Lakhs to Rs. 12 Lakhs

160 sq m

MIG II

Rs. 12 Lakhs to Rs. 18 Lakhs

200 sq m

And that is all he told me about the Pradhan Mantri Awas Yojana home loan eligibility. I hope this helps. 

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0 2022-01-04T10:46:02+00:00
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You must have heard that the Central Government of India had launched a Housing for All campaign in the name of Pradhan Mantri Awas Yojana which intended to provide affordable housing. The initiative is entering the final year and many people are asking who is eligible for home loan subsidy. Well, I have done a lot of research and I can say a few things about subsidy on home loan by government 2022. Let us explore it together, shall we? Home loan Subsidy Scheme So the subsidy scheme is also known as Credit Linked Subsidy Scheme or CLSS and this focuses majorly on providing home loans at a lower interest rate. Let us look at who is eligible for home loan subsidy as per CLSS.
  • Home loan subsidy scheme is applicable to families with a husband, wife, and unmarried children.
  • The beneficiaries should not own a pucca house across the country to get subsidy on home loan by government 2022.
  • If there is a married couple they can avail subsidy under joint ownership.
  • Only first time applicants can avail CLSS scheme
  • The  families under the MIG income group need to provide  Aadhaar numbers to avail the benefit of the subsidy.
This should help you know in detail about who is eligible for subsidy on home loan by government 2022. Online services and widgets also help you get details on eligible loan amount. Since, I was not available for a subsidy. I directly checked loan amount I would get. [widget_homeLoan_checkEligibility_form] Check your home loan eligibility via NoBroker Home Loan Services Read more: What is Credit Linked Subsidy Scheme What is the last date of CLSS How to check PMAY subsidy amount

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