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HDFC – PMAY – Pradhan Mantri Awas Yojana HDFC Bank

If you want to take HDFC Home loan under the PMAY or Pradhan Mantri Awas Yojana, there here is everything you need to know about HDFC PMAY program.

Pradhan Mantri Awas Yojana Loan with HDFC has following schemes. Please check the scheme details here.

PMAY HDFC Scheme Details – Pradhan Mantri Awas Yojana HDFC

hdfc pmay home loan scheme clss

PMAY HDFC Eligibility House hold income required

CLSS Scheme Type Eligibility Household Income ( Rs.)
EWS and LIG Upto Rs. 6,00,000
MIG 1 ** Rs. 6,00,000 to Rs. 12,00,000
MIG 2 ** Rs. 12,00,001 to Rs. 18,00,000

PMAY HDFC Subsidy on Maximum Loan Amount

CLSS Scheme Type Subsidy calculated on a max loan of
EWS and LIG Rs. 6,00,000
MIG 1 ** Rs. 9,00,000
MIG 2 ** Rs. 12,00,000

PMAY HDFC Maximum Subsidy Amount as per loan amount

CLSS Scheme Type Max Subsidy (Rs.)
EWS and LIG 2.67 Lacs
MIG 1 ** 2.35 Lacs
MIG 2 ** 2.30 Lacs

PMAY HDFC Maximum Carpet Area

CLSS Scheme Type Carpet Area-Max (sqm)
EWS and LIG 60 sqm
MIG 1 ** 90 sqm
MIG 2 ** 110 sqm

PMAY HDFC Loan Purpose

CLSS Scheme Type Loan Purpose
EWS and LIG Purchase/Self Construction/Extension
MIG 1 ** Purchase/Self Construction
MIG 2 ** Purchase/Self Construction

PMAY HDFC Validity of Scheme respectively

CLSS Scheme Type Validity of scheme
EWS and LIG 31/03/2022
MIG 1 ** 31/12/2017
MIG 2 ** 31/12/2017

PMAY HDFC Loan Woman Ownership Requirement

CLSS Scheme Type Woman Ownership
EWS and LIG Yes *
MIG 1 ** Not Mandatory
MIG 2 ** Not Mandatory

Here is complete information about Pradhan Mantri Awas Yojana Loan by HDFC Home Loans.

PMAY HDFC – CLSS Guidelines Ammendments

  1. Beneficiaries of Economically Weaker section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5 % for a tenure of 20 years or during tenure of loan whichever is lower. The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %
  2. In lieu of the processing fee for housing loan for the borrower under the scheme, PLIs will be given a lump sum amount of Rs. 3,000/- (Rupees Three Thousand only) per sanctioned application. PLIs will not take any processing charge from the beneficiary for housing loans upto Rs. 6 lakh under the Scheme. For additional loan amounts beyond Rs. 6 lakh, PLIs can charge the normal processing fee.
  3. “PLIs should take NOCs quarterly from State /UT Government or designated agency of State / UT Governments for the list of EWS beneficiaries being given benefits under credit linked subsidy”.
  4. Primary Lending Institutions, in the home loan applications, shall disclose transparently the Scheme eligibility and ascertain willingness and eligibility of applicants under CLSS for EWS/LIG.
  5. CLSS for EWS/LIG’, wherever it occurs in the scheme guidelines, MoUs and related documents.
  6. Primary Lending Institutions (PLI): Scheduled Commercial Banks, Housing Finance Companies, Regional Rural Banks (RRBs), State Cooperative Banks, Urban Cooperative Banks, Small Finance Banks, Non Banking Financial Company-Micro Finance Institutions’ (NBFC-MFIs) or any other institutions as may be identified by the Ministry.
Updated: April 5, 2017 — 6:51 pm

1 Comment

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  1. Is there CAP on property Value under PMAY. Eg. I buy flat of 40 Lacs, selling old house 22 Lacs, need 18 Lacs loan, my income is 6-12 Lacs IE. MIG 1 Category. Carpet Area is also within the limits prescribed. This is my only property as on date n not availed any Housing Subsidy earlier, am I eligible for PMAY.?

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