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PMAY Subsidy

Pradhan Mantri Awas Yojana Subsidy

With an aim to provide affordable housing to every societal strata, the PMAY scheme offers its beneficiaries the PMAY subsidy , where the interest on the housing loan is offered at subsidised or reduced interest rates.

Interest on the housing loan is offered at subsidised or reduced interest rates, as can be seen in the table below -


Particulars EWS LIG MIG I MIG II

Household Income (Rs. p.a.)





Eligible loan amount for PMAY subsidy

Upto Rs. 6,00,000

Upto Rs. 6,00,000

Upto Rs. 9,00,000

Upto Rs. 12,00,000

Pradhan Mantri Awas Yojana interest rate (% p.a.)





Maximum Loan Tenure (in years)





Maximum Carpet Area (sq. mts.)





Discount rate for NPV (Net Present Value) of PMAY interest rate (%)






Maximum Subsidy Interest Amount (in Rs.) 2,67,280 2,67,280 2,35,068 2,35,156
Lump sum amount to be paid to PLUs in lieu of processing fee, to the extent of loan amount on which PMAY subsidy is applicable (in Rs.) 3,000 3,000 2,000 2,000

Application of scheme on existing home loans sanctioned on or after






Applicability of no pucca house

Not for renovation/extension

Not for renovation/extension




Female ownership/Co-ownership

Mandatory for new acquisition, not for existing property

Mandatory for new acquisition, not for existing property

Not mandatory

Not mandatory


Quality of House/Property Construction

National Building Code, BIS Codes, and as per NDMA Guidelines


Building Design Approval



Basic Civil Infrastructure (water, sanitation, roads, electricity, sewage, etc.)



What is CLSS?

CLSS or Credit Linked Subsidy Scheme is a component of the Pradhan Mantri Awas Yojana under which households belonging to not only the Economically Weaker Section (EWS) and the Lower Middle Group (LIG) categories, but even those belonging to Middle Income Groups (MIGs) can avail interest subsidy, also known as the Pradhan Mantri Awas Yojana subsidy, on their home loans. The aim of the PMAY scheme is to provide affordable housing loans to every societal class. 

Are You Eligible for PMAY Subsidy?

The Pradhan Mantri Awas Yojana eligibility is as follows –

  • You or any other member of your family must not own a pucca house in any part of India

  • You must not have received any Central assistance under the CLSS scheme

  • Your income must meet the eligibility criteria

  • The carpet area of your property must meet the specifications for your respective category

Want to Calculate Your PMAY Subsidy?


PMAY Credit Linked Subsidy Scheme is available to all aspiring first-time homeowners provided they belong to the prescribed four beneficiary categories. These categories under PMAY CLSS are as follows –

·         Economically Weaker Section (EWS) – Annual household income below Rs. 3 lakhs

·         Lower Income Group (LIG) – Annual household income between Rs. 3 lakhs to Rs. 6 lakhs

·         Middle Income Group I (MIG I) – Annual household income between Rs. 6 lakhs to Rs. 12 lakhs

·         Middle Income Group II (MIG II) – Annual household income between Rs. 12 lakhs to Rs. 18 lakhs 

The maximum PMAY subsidy amount that one can be eligible for is Rs. 2, 67,280. 

The PMAY loan tenure is for a maximum of 20 years. Under the CLSS scheme, applicants are eligible to avail credit subsidy for a period of 20 years or for the actual tenure of the loan, whichever is lower. 

PMAY subsidy is credited upfront to the beneficiary’s account. This transfer of subsidy on home loan by government reduces the principal loan amount, and thereby, the Equal Monthly Instalment (EMI). You can calculate this EMI value using an online PMAY calculator

The customer needs to inform Tata Capital Housing Finance Ltd of his interest in applying for PMAY Subsidy at the time of home loan application or later. After the loan has been disbursed, Tata Capital Housing Finance Ltd. will send required details to NHB, which in turn shall conduct a series of checks, and if found eligible, shall approve subsidy to the customer. 

The following process will be followed to release subsidy to the beneficiary -

·         Tata Capital Housing Finance Ltd. shall claim subsidy for eligible borrowers from National Housing Bank (NHB)

·         NHB shall conduct a thorough due diligence and approve/release subsidy to Tata Capital Housing Finance Ltd. For the PMAY eligibility of borrowers based on disbursements made to the customer

·         Subsidy disbursed by NHB to Tata Capital Housing Finance Ltd. will be credited upfront to customer’s account against principal. Thus, the borrower will pay EMI on the remaining outstanding principal.

No, CLSS benefit cannot be availed for the purchase of commercial or non-residential property, but only for the purchase of residential property.

Yes, the Prime Minister Awas Yojana rural scheme is available for those who wish to become first-time homeowners in the rural areas. PMAY for rural areas is commonly known as the Pradhan Mantri Awas Yojana Gramin or PMAY (G).