SLOGAN : HOUSING FOR ALL

Official Website : pmaymis.gov.in

Launch Year : 2015
Status : Active
Launched by : Prime Minister Narendra Modi
Ministry : Ministry of housing and Urban Affairs
The Mission will be implemented during 2015-2022

1. In-situ Rehabilitation of existing slum dwellers using land as a resource through private
participation
2. Credit Linked Subsidy
3. Affordable Housing in Partnership
4. Subsidy for Beneficiary-led individual house construction/enhancement.
Credit linked subsidy component will be implemented as a Central Sector Scheme while other
three components will be implemented as Centrally Sponsored Scheme (CSS).The scheme will
cover
Pradhan Mantri Awas Yojana - Credit Linked Subsidy Scheme
The "Credit Linked Subsidy Scheme” (CLSS) under Pradhan Mantri Awas
Yojana (PMAY) was announced by our Honourable Prime Minister Shri
Narendra Modi.
The scheme envisages the vision of housing for all by the year 2022.
ICICI Bank offers "Credit Linked Subsidy Scheme" under Pradhan Mantri
Awas Yojana

Under this scheme, interest subsidy on purchase/ construction/

extension/ improvement of house is provided to customers belonging to
Economical Weaker Section (EWS)
Lower Income Group (LIG)
Middle Income Group (MIG).
 Eligibility
The beneficiary family should not have received central
assistance under the Mission “Housing for all by 2022”.

Beneficiaries
The scheme is offered to families, comprising of husband, wife and
unmarried children. (An adult earning member irrespective of marital
status can be treated as a separate household in MIG category)

The family should not own a pucca house in his/ her name or in the name
of any member of the family, in any part of India
 Features
• Upfront interest subsidy benefit on principal outstanding
• Aadhaar number(s) of the beneficiary family are mandatory for MIG
category
• Interest subsidy will be available for a maximum loan tenure of 20
years or the loan tenure availed by the borrower whichever is lower
• There is no cap on the loan amount or on the cost of property.
• The Net Present Value (NPV) of the interest subsidy will be calculated
at a discount rate of 9 %.
• The additional loan beyond the specified limits, if any to be at non-
subsidized rate.
 STATES AND CITIES COVERED
• As of 25 April 2016, the government has identified 2,508 cities and towns in 26 states for beginning construction of
houses for urban poor. Construction of 1,86,777 additional houses for the benefit of urban poor with an investment of
Rs.11,169 cr with central assistance of Rs. 2,797 cr was approved in February 2018, taking the cumulative total houses
approved to 39,25,240 houses including subsumed RAY scheme, of the targeted 20 million houses by March 2022.
• Chhattisgarh – 1000 cities/towns
• Jammu and Kashmir – 19 cities/towns
• Jharkhand – 15 cities/towns
• Madhya Pradesh – 74 cities/towns
• Rajasthan
• Haryana, 53,290 houses in 38 cities and towns with an investment of Rs.4,322 cr (c. Feb 2018)
• Tamil Nadu, 40,623 houses in 65 cities and towns with an investment of Rs.2,314cr (c. Feb 2018)
• Karnataka, 32,656 houses in 95 cities with an investment of Rs.1,461 cr (c. Feb 2018)
• Gujarat, 15,584 houses in 45 cities and towns with an investment of Rs. 946 cr (c. Feb 2018]
• Maharashtra, 12,123 houses in 13 cities and towns with an investment of Rs.868 cr (c. Feb 2018)
• Kerala, 9,461 houses in 52 cities with an investment of Rs.284 cr (c. Feb 2018)[
• Uttarakhand, 6,226 houses in 57 cities and towns with an investment of Rs.258 cr (c. Feb 2018)
• Orissa, 5,133 houses in 26 cities and towns with an investment of Rs.156 cr (c. Feb 2018)
 Scheme Type EWS/LIG MIG – I MIG – II

Eligibility Family Income EWS – Rs. 0 to Rs. 3, 00,000 Rs. 6,00,001 to Rs.12,00,001 to
(Rs.) LIG – Rs. 3,00,001 to Rs. 6,00,000 Rs.12,00,000 Rs.18,00,000

Carpet Area-Max (sq. m.) 30 sqm** / 60 sqm** 160 200

Subsidy calculated on a
Rs. 6,00,000 Rs. 9,00,000 Rs. 12,00,000
max loan of

Interest Subsidy (%) 6.50 4.00 3.00

Max Subsidy (Rs.) 2.67 Lakh 2.35 Lakh 2.30 Lakh

Validity of scheme 31 March 2022 31 March 2019 31 March 2019

Woman Ownership Mandatory* Non Mandatory Non Mandatory