Credit Linked Subsidy Scheme
Credit Linked Subsidy Scheme (CLSS) is introduced by Prime Minister Narendra Modi with the vision of housing for all by the year 2022. CLSS is one of the main element under the Pradhan Mantri Awas Yojana from which government of India provide the financial support to the low income group category for purchasing the affordable house. Every human has a dream to live in their own home. But it is not easy to even think about a house because of unexpected hike in the manufacturing expenditure. Keeping this dilemma in the mind Credit Linked Subsidy Scheme 2017 has been launched by PM Modi in the month of June 2015 for Low Income Group (LIG) and Middle Income Group (MIG).
The government has selected the 305 cities and towns under the 9 states for starting construction of houses for urban poor. So people who are interested to avail the advantage of Credit Linked Subsidy Scheme 2017 they may fill the application form. People can obtain CLSS LIG/MIG Groups Eligibility Details through this page which is created by the team of www.recruitmentinboxx.com
Features Of Credit Linked Subsidy Scheme:
Under credit link subsidy scheme the government offer an interest subsidy of 6.5% on housing loans attained by the receiver for a period of 20 years (CLSS) from the start of a loan. The houses under this scheme would be manufactured through eco-friendly technology. Government also provides providing ground floors houses to differently abled and older persons. Under Credit Linked Subsidy Scheme, government has planned to construct 2 crore houses for metropolitan poor as well as Economically Weaker Sections and Low Income Groups in urban areas by the year 2022.
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Objective of Credit Linked Subsidy Scheme:
The main motive of the scheme is to give financial support to the low income group category and middle income group category viz. Economically Weaker Sections (EWS) and Low Income Group (LIG) for buying / assembling of residential units under affordable housing scheme. This Mission implemented through four verticals giving option to beneficiaries:
- In-situ Slum Redevelopment with private sector participation using land as resource,
- Affordable Housing through Credit Linked Subsidy,
- Affordable Housing in Partnership with private and public sector
- Beneficiary led house construction/enhancement.
Credit Linked Subsidy Scheme
Indian Citizen who belong to Economically Weaker Sections (EWS) and Low Income Group (LIG) and desire to buy or want to build their housing units, they can seize the advantage from this Scheme. In addition, those applicants who come under Middle Income Group (MIG) that simply states that citizens with an annual income greater than 6 lack and up to 12 lack will attain an interest subsidy of 4% for loan up to 9 lack and those whose annual income more than 12 lack and up to 18 lack will attain an interest subsidy of 3% on loan up to 12 lack.
CLSS LIG/MIG Groups Eligibility Details
The candidate from Urban area belonging to EWS/LIG categories planning for acquisition / construction of residential units are eligible borrowers. The list of eligibility parameters are as under:
- EWS: Annual household income up to ` 3 lakhs
- LIG: Annual household income above ` 3 lakhs and up to ` 6 lakhs.
- The beneficiary family should include husband, wife, unmarried sons and /or unmarried
- The receiver of this scheme should not have a pucca house either in their name or in the name of any member of their family across India, to be eligible to receive central support under the work.
- Loan is for Purchase / Construction of Property in select urban cities which are covered under the PMAY by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA)
- One of the owners of the property is a Woman
- The family income of the applicants is not more than Rs. 6.00 lac per annum for EWS/LIG segment, Rs.12 lac per annum for MIG-I segment and Rs.18 lac per annum for MIG-II segment.
- The carpet area of dwelling unit is up to 90 sq.mts for MIG-I segment and 110 sq.mts for MIG-II segment.
- The applicant(s) are not having any other dwelling unit in their names in any part of the country
- Adhaar card is mandatory for eligibility under this scheme
- The property being purchased is not having any other Central Government Subsidy
- First choice under the scheme will be given to those persons who belong to Scheduled Castes / Scheduled Tribes /Other Backward Classes, Minorities, Persons with disabilities and Transgender.
GRUH is an official lender under the PMAY and loans which satisfy the above criteria are being forwarded to the National Housing Bank for sanction. Highest subsidy that can be attained under the scheme is Rs. 2.67 lac per family. Subsidy attain from the Central Government is passed on to the customers and the loan amount and monthly installment amount (EMI) are reduced.
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How Beneficiary Can Take The Advantage Of Credit Linked Subsidy Scheme?
Work Flow of Circle Office
- For log in the account applicants need to type the “cluster.dcmsme.gov.in/Admin/Clcss_UserLogin.aspx” in a web browser
- Now you have to “User ID” and “Password” in an available space.
- If User ID & Password is correct then page is redirect to the user Home page.
- On the home page you have to hit on the “apply for Subsidiary” link which is available left side of the page.
- Circle Office has to fill all mandatory fields which are indicated by red star mark and then click on “hit to fill application full details” button to apply for subsidy as indicated by oval sign. After press button user will redirect to applicant information page.
- After filling the form, you have to upload necessary documents.
- Then you need to preview of the Credit Linked Subsidy Scheme Application form.
- Also take a print out of it.
- At last hit on the “Submit” button.
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Credit Linked Subsidy Yojana Details
National Housing Bank and Housing and Urban Development Corporation have been appointed as Central Nodal Agencies (CNAs) by Ministry of Housing and Urban Poverty Alleviation with the aim of accomplishment of this scheme. As a part of the accomplishment process, every Primary Lending Institution (PLI) wants to Tie up with one of these CNAs. Consequently, IDBI Bank has tied up NHB for implementation of the said scheme.
|CLSS Scheme Type||Eligibility Household Income ( Rs.)||Carpet Area-Max (sqm)||Interest Subsidy (%)||Subsidy calculated on a max loan of||Loan Purpose||Validity
|Max Subsidy (Rs.)|
|EWS and LIG||Upto Rs. 6,00,000||60 sqm||6.50 %||Rs. 6,00,000||Purchase/
|MIG 1 **||Rs. 6,00,001 to Rs. 12,00,000||90 sqm||4.00 %||Rs. 9,00,000||Purchase/
|MIG 2 **||Rs. 12,00,001 to Rs. 18,00,000||110 sqm||3.00 %||Rs. 12,00,000||Purchase/
|CLSS Scheme Type||Woman Ownership|
|EWS and LIG||Yes *|
|MIG 1 **||Not Mandatory|
|MIG 2 **||Not Mandatory|
Prime Minister Narendra Modi introduces various schemes for the development of the country, we the team will give you next development scheme details on this web portal, so stay in touch with us.
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