PMAY Subsidy Calculator

Pradhan Mantri Awas Yojana Subsidy Calculator

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

How to use PMAY Subsidy Calculator Online?

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.

How is PMAY Subsidy Calculated?

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%.

PMAY Subsidy Classification

Documents Required to obtain the Benefits Of PMAY

The following documents must be presented to obtain the benefits of PMAY Scheme,

• Aadhaar card

• Loan sanction letter

• PAN card

• Buyer builder agreement or ATS copy

• Stamp paper/affidavit

How to Check Eligibility Criteria for PMAY Scheme

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.