Credit Linked Subsidy Scheme (CLSS) is started by Indian government under Pradhan Mantri Avas Yojana. Under this scheme the government will provide the home loans to the poor urban people for constructing house through the banks. The people who are of Economically Weaker Section (EWS) or Low Income Group (LIG) will take the benefit of this scheme. The housing finance companies and such institution will provide the loan facility to the poor people on a interest rate 6.5% for a time period of 15 years.
Credit Linked Subsidy Scheme Mission
The main objective of this scheme is to provide the home loans to the poor families of urban areas
- This scheme is applied for 4041 towns in the country.
- This scheme is implemented during 2015-2022 for the poor people of urban areas.
- The carpet area of home to be constructed should be 30 sq. meter for EWS families and 60 sq. meter for LIG families.
- The beneficiary can build larger house but the limit of loan provided will be 6 lac.
Eligibility for Credit Linked Subsidy Scheme
Here is the description of the families who can take the benefit of Credit Linked Subsidy scheme (CLSS).
- The families who do not have pucca house are eligible to take the benefit of this scheme.
- Economically Weaker Section (EWS) & Low Income Group (LIG) people can take the benefit of this scheme.
- The married families who have unmarried children can take the benefit of this scheme.
How to apply for Credit Linked Subsidy Scheme
Here is the full applying procedure of credit linked subsidy scheme for the poor people.
- Income proof is needed for the identification of the Economically Weaker Sections (EWS) & for the Low Income Group (LIG) families.
- The families can directly apply through ULB or through the local agencies which are identified by the state government.
- To take the benefit of this scheme the families has to pay sum Rs 250 to the designated staff and to ULB or NGOs.
Limit of loan amount
As per the guidelines of government maximum limit is described below
- In the metropolitan areas where the population is more than 10 lakh will be provided loan upto Rs. 28 lacs.
- In the other centres where the population is less than 10 lakh will be provided the amount of Rs. 20 lacs.
Under this scheme the subsidy for the people who are economically weak and living under the low income group. This scheme is the component of Pradhan Mantri Avas yojana (PMAY) and it has become effective from 17 June 2015 . Housing and Urban Development Corporation (HUDCO) and National Housing Banks (NHB) are identified to chanalise credit linked scheme.
CLSS toll-free helpline numbers