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The Pradhan Mantri Awas Yojana is a special scheme that is aimed to benefit first-time homebuyers. As part of the scheme, beneficiaries can avail a PMAY subsidy on the home loan interest rate. Claiming the PMAY subsidy under the scheme is simple as long as your income and the home carpet area norms fit the requirement.

How to Check PMAY Subsidy Status Online?

You can check your PMAY Subsidy status by following the below-mentioned steps:

  • Step 1: Visit PMAY’s official website online.

  • Step 2: On visiting the official Pradhan Mantri Awas Yojana website, you will be required to choose one of the two options through which you would like to track your PMAY status.

Option 1: Track PMAY Application Status - By Name, Father’s Name & Mobile Number

  • If you select Option 1, then you will have to enter all the required details like your name, father’s name, state, district, city, and mobile number. On providing all the information, your PMAY application status will be displayed.

Option 2: Track PMAY Application Status - By Assessment ID

  • If you select Option 2, all you will have to do is enter your Assessment ID and Mobile number. On providing the details, you will be directed to a page wherein your PMAY application will be displayed.

PMAY Subsidy Status Check by Aadhaar Number

The Aadhaar number can be used to check your PMAY subsidy status. It is a 12-digit, unique number issued by the UIDAI. It serves as a vital identification document that is accepted as both proof of identity and address.

To check your PMAY status using the Aadhaar card, follow these steps:

  • Step 1: Visit the official PMAY website and click on the ‘Search Beneficiary’ option listed against the main menu.

  • Step 2: Next, click on ‘Search by name’ before entering your Aadhaar number.

  • Step 3: Upon entering the Aadhaar number, you can view the status of your PMAY application.

How to Check PMAY Subsidy Status Offline

You can check the PMAY subsidy status offline through the following methods:

PMAY Subsidy Status Check via Toll-Free Number

Contact the National Housing Bank (NHB) or Housing and Urban Development Corporation (HUDCO) through the following toll-free numbers to check the PMAY subsidy status.

  • National Housing Bank: 1800 11 3377, 1800 11 3388

  • Housing and Urban Development Corporation: 1800 11 6163

PMAY Application Status Check via Local Authority

Alternatively, you can choose to get in touch with an officer at your local municipality, preferably one who handles the PMAY programme. You may also get in touch with your bank to track your PMAY application status.

How to Check PMAY UCLAP Subsidy Status Online

To check the PMAY UCLAP subsidy status, the process goes comprises the following stages,

  • Generation of the application ID

  • Getting through the due diligence conducted by the PLI

  • Uploading the claim on Central Nodal Agency Portal

  • Subsidy claim approval

  • Finally, the release of the subsidy to PLI

How to track applications on CLSS tracker?

  • Step 1 - Visit pmayuclap.gov.in.

  • Step 2 - Browse the home page to enter the application ID and click on ‘Get Status’.

  • Step 3 - Enter the OTP received on the registered mobile number.

Once done, the system will let you view the status of the application.

How to Calculate PMAY Subsidy ?

Calculating the PMAY subsidy allows you a better understanding of the subsidy that you can enjoy under the PMAY Scheme. Use the Finserv MARKETS PMAY subsidy calculator by simply entering the loan amount and loan tenure. Enter the same to obtain the value of the eligible PMAY subsidy.

Who can Apply for PMAY Subsidy

In case you are an aspiring homeowner looking to make use of the Pradhan Mantri Awas Yojana home loan subsidy, you must belong to the:

  • Economically Weaker Sections of society or within the lower income groups with an annual income of 6 Lakh rupees and your family can not have possession of any pucca houses in any part of the country at the time of application.

  • Once the subsidy is approved for the loan amount, the monthly EMI amounts that one will have to pay monthly will come down automatically as a result of it.

How to Check if your PMAY Subsidy is Credited Into your Home Loan Account

You can check your approval for the PMAY credit-linked subsidy by visiting the official CLSS Awas Portal (CLAP). The website enables you to easily and effectively track the status of your subsidy application.

  • Step 1: Visit the official PMAY CLAP website at https://pmayuclap.gov.in.

  • Step 2: Browse the homepage to find the ‘CLSS Tracker’ before entering your application ID. The PMAY application ID is an 11-digit, alphanumeric code. Next, click on the ‘Get Status’ button.

  • Step 3: You will receive a six-digit OTP on your registered mobile number. The OTP is valid for five minutes. You can then view the status of your PMAY application.

Credit Linked Subsidy Scheme: Explained

Credit-Link Subsidy Scheme (CLSS), the government provides direct subsidies on home loans taken under the affordable housing scheme to buyers whose annual income falls below a particular threshold. As a part of the scheme, individuals about to purchase a new affordable home can get a subsidy of up to 3%-4% on the borrowed amount. However, it must be noted that the same can only be availed if they meet certain conditions.

The subsidy in question is computed as the present value of interest savings on the home loans that have been availed, which is capped at ₹2.67 Lakhs. Additionally, one has to keep in mind that the benefits of CLSS are only meant for individuals that are from the economically weaker sections (EWS) of the society. They are further sub-categorised as the lower-income group (LIG) and the middle-income group (MIG). The subsidy that is granted translates into smaller Home Loan EMI amounts.

In order to get the aforementioned subsidy, one must submit a self-declaration form. This particular document must contain details such as their yearly income, the name of the property, and a statement from the lending institution implying that the information furnished by the borrower is correct and accurate to their knowledge.

Finally, one must also make note of the fact that the interest subsidy in question will only be granted when the claim for the same is processed by the relevant nodal agency (despite the actual loan being granted and disbursed earlier).

Let us now take a look at the features of the subsidy in question.

Features of CLSS Scheme

It is important to be aware of the integral features of the Pradhan Mantri Awas Yojana (PMAY) subsidy for a greater understanding of how it functions:

  • The maximum subsidy amount that can be availed cannot exceed ₹2.67 Lakhs.

  • The PMAY subsidised interest rate is at 6.5% for a loan tenure of about twenty years or throughout the period of the loan repayment, whichever happens to be lower in comparison.

  • It must also be noted that the PMAY home loan subsidy is only applicable for pre-approved loan amounts extending to ₹6,00,000; any additional loan amount will not be subsidised.

  • You must have a valid Aadhaar card if you wish to apply for a loan under the Pradhan Mantri Awas Yojana scheme.

Benefits of CLSS Scheme

The CLSS Scheme carries the following benefits:

  • A subsidised interest rate on the home loan online.

  • The subsidised amount is directly deposited into the linked bank account. This lowers the outstanding principal and EMI.

  • Extended loan tenure of up to 20 years.

  • Eligible for tax benefits under the Income Tax Act of 1961.