The Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS) is a government initiative aimed at providing affordable housing solutions to the economically weaker sections, lower and middle-income groups in urban parts of India. Understanding the PMAY CLSS eligibility criteria is the first step to accessing the scheme’s benefits.
PMAY CLSS Eligibility
To avail the PMAY CLSS, an individual must satisfy several eligibility criteria. First, the applicant has to be a first-time homeowner; they must not own a pucca house in any part of India, and the same applies to any family member. Secondly, to maintain a pro-economic weaker section stance, the PMAY CLSS scheme sets an income criterion. The household income for Economically Weaker Section (EWS) and Low Income Group (LIG) should not exceed Rs 6 lakh per annum. Meanwhile, Middle-Income Groups (MIGs) are segregated into two categories: MIG I and MIG II. MIG I includes households with an annual income between Rs 6 lakh and Rs 12 lakh, and MIG II includes households that have an annual income between Rs 12 lakh and Rs 18 lakh.
Additional Factors
Further PMAY CLSS eligibility criteria detail that the house should be the family's only property, and female ownership or co-ownership is required for EWS and LIG categories. Moreover, the scheme mandates that the beneficiary family should not have availed of any central assistance from the Government of India under any housing scheme. For those looking to apply, using a Home Loan App can streamline the process and provide necessary information at your fingertips.
Conclusion
The PMAY CLSS initiative is a commendable step towards the betterment of lower and middle-income families across urban India. However, to benefit from this scheme, it is vital for potential beneficiaries to familiarize themselves with the PMAY CLSS eligibility criteria. This knowledge allows potential homeowners to navigate through the process seamlessly and avail the offered benefits effectively.
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