The Central Government of India launched the ‘Credit-Linked Subsidy Scheme’ or CLSS as part of Pradhan Mantri Awas Yojana. The initiative has been set with the noble effort to ensure ‘Housing for All’ by 2022. Under this scheme, the economically weaker section, lower-income groups and middle-income groups can avail interest subsidies on home loans.
The PMAY subsidy calculator is a tool developed for self-help. It provides results depending on the information that you enter. The PMAY subsidy calculator provides approximate values. This is why it is important to note that ultimate results cannot be considered absolute.
*Exact numbers may vary subject to gov rules and regulations
It is extremely simple to use the PMAY subsidy calculator. All you have to do is enter the,
Annual Family Income
Loan Amount
Tenure
Rate of Interest
Once you enter all the values, the estimated PMAY subsidy result will appear in the calculating tool.
The Net Present Value (NPV) of the interest subsidy amount is considered as the subsidy amount. Net Present Value is calculated at a discount rate of 9%.
CLSS |
Max.Household Income |
Maximum Subsidy |
Max Area |
Subsidy on Interest |
Max. Loan Amount |
Loan tenure |
MIG – 2 |
₹ 12 – 18 Lakhs |
₹ 2.30 Lakhs |
110 sq. meter |
3% p.a. |
₹ 12 Lakhs |
20 years |
MIG – 1 |
₹ 6 – 12 Lakhs |
₹ 2.35 Lakhs |
90 sq. meter |
4% p.a. |
₹ 9 Lakhs |
20 years |
LIG |
₹ 3 – 6 Lakhs |
₹2.67 Lakhs |
60 sq. meter |
6.5% p.a. |
₹ 6 Lakhs |
20 years |
EWS |
₹ 0 – 3 Lakhs |
₹ 2.67 Lakhs |
30 sq. meter |
6.5% p.a. |
₹ 6 Lakhs |
20 years |
The following documents must be presented to obtain the benefits of PMAY Scheme,
Loan sanction letter
PAN card
Buyer builder agreement or ATS copy
Stamp paper/affidavit
To check your eligibility for the Pradhan Mantri Awas Yojana scheme, you must follow the given steps:
Step 1: Visit the official PMAY website i.e PMAY-HFA(Urban) (pmaymis.gov.in).
Step 2: Click on the 'Subsidy Calculator’ option located on the navigation panel. You can also visit the PMAY (U) page for the NPV Subsidy Calculator at PMAY-HFA(Urban) (pmaymis.gov.in)
Step 3: Enter the requested details that include the loan amount, tenure, family income, etc. before clicking on ‘Calculate’
Step 4: The subsidy amount details will be generated and instantly displayed on the screen.
Get your subsidy on a House Loan today.
Your dream of owning a home need not wait!, Pradhan Mantri Awas Yojana (PMAY) along with Bajaj Markets will make your dream come true And the best part! With PMAY scheme, you can get a significant subsidy on your Home Loan interest amount.