Pradhan Mantri Awas Yojana Subsidy

One of the major verticals of Pradhan Mantri Awas Yojana (PMAY) is Credit Linked Subsidy Scheme (CLSS) for Lower Income Group/Economically Weaker Section (EWS/LIG) and Middle Income Group (MIG – I & II). Under this scheme, Central government provides financial assistance through lending Institutions to eligible beneficiaries across all statutory towns as per 2011 census and their adjacent planning area (updated by the government from time to time)

Pradhan Mantri Awas Yojana Subsidy Calculator

Have you availed central assistance under any housing scheme from Govt. or any benefit under PMAY?

Any of your household member or you own a pucca house anywhere in India?

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50K
|
6L
|
12L
|
18L
|
50K
|
50L
|
1Cr
|
1.5Cr
|
2Cr
|
2.5Cr
|
3Cr
%
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8.45%
|
12.65%
|
16.75%
|
20.85%
|
24.95%
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3Y
|
6Y
|
10Y
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15Y
|
20Y
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25Y
|
30Y

Is adult female part of applicant's household?

  • Congratulations!

    You may save

    1,45,301

    on your Home Loan, under PMAY!

    Subsidy Category - MIG-II

  • Effective Interest Rate

    %

    Net Reduction in EMI



  • Apply Now

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Helpline Number: 1860-267-3000

*Note :
  • Household (under this scheme): A family comprising of husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.
  • Carpet Area: It is the area enclosed within the walls, actual area to lay the carpet. It excludes the area covered by the external walls, but includes the area covered by internal partition walls of the apartment.

Disclaimer :
Above assessed amounts are indicative and may vary from case to case depending on various factors as embedded within the scheme guidelines. The calculator does not guarantee CLSS - PMAY benefit to applicant/customer. Disbursement of subsidy is at sole discretion of Govt. of India.

PMAY Subsidy Calculator FAQs

The income norms for various Household categories are defined as under:

  • Annual Household Income of EWS/LIG should be less than Rs. 6 Lakhs
  • Annual Household Income of MIG 1 should be Rs. 6-12 Lakhs
  • Annual Household Income of MIG 2 should be Rs. 12-18 Lakhs

Post disbursement of the loan amount, IIFL Home Loans may claim the subsidy benefit for eligible borrowers from National Housing Bank(CNA). .On receipt of Subsidy amount from CNA, the Principal Outstanding in Home Loan Account of the Customer is reduced to the tune of Subsidy amount. Accordingly, EMI of the Customer is reduced

A Customer is eligible for maximum subsidy if the disbursed amount is equal to or more than Rs. 6 lakhs in EWS/LIG category, 9 lakhs in MIG 1 category, 12 lakhs in MIG 2 category and loan tenure is of 20 years. In case Loan disbursement or tenure is below the above-mentioned limits, subsidy would be reduced proportionately. Kindly refer to the subsidy calculator.

  • EWS/LIG - upto 2.67 Lakhs
  • MIG 1 - upto 2.35 Lakhs
  • MIG 2 - upto 2.30 Lakhs

Repairing work to the existing house can be undertaken in houses which are kutcha, semi pucca and require extensive renovation to make it into a pucca house. However, this is applicable only for applicants in the EWS/ LIG categories.

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