Credit Linked Subsidy Scheme for Middle Income Group (CLSS-MIG) was introduced by the Ministry of Housing and Urban Affairs (MoHUA) to address the housing demands of the Middle-Income Group in India. The scheme offers interest subsidies on housing loans for the acquisition, construction, or repurchase of houses. Implemented under the Pradhan Mantri Awas Yojana – Urban (PMAY-U), the scheme helps families achieve affordable housing with reduced financial burdens.
Key Highlights
Coverage
- Applicable in all Statutory Towns as per Census 2011.
- Includes towns notified later, Planning/Development Areas, and areas under Urban Development Authorities.
Purpose
- Interest subsidy on housing loans for house acquisition, construction, or repurchase.
Beneficiary Definition
- A family consisting of husband, wife, and unmarried children.
- An adult earning individual (irrespective of marital status) can be treated as a separate household.
Benefits
Interest Subsidy
| Particulars | MIG-I | MIG-II |
|---|---|---|
| Household Income (₹/year) | ₹6,00,001 – ₹12,00,000 | ₹12,00,001 – ₹18,00,000 |
| Interest Subsidy (%/year) | 4% | 3% |
| Eligible Loan Amount (₹) | ₹9,00,000 | ₹12,00,000 |
| Dwelling Unit Carpet Area | 160 sq. mts. | 200 sq. mts. |
| Maximum Loan Tenure | 20 years | 20 years |
| NPV Discount Rate (%) | 9% | 9% |
Additional Notes
- Subsidy is credited upfront to reduce the principal loan amount and thereby lower EMI.
- Loans exceeding the eligible amount are charged at non-subsidized rates.
Eligibility Criteria
- House Ownership:
- The beneficiary family must not own a pucca house in any part of India.
- Government Assistance:
- Applicants must not have availed of central assistance under any other housing scheme.
- Income Groups:
- MIG-I: Annual household income between ₹6 lakhs and ₹12 lakhs.
- MIG-II: Annual household income between ₹12 lakhs and ₹18 lakhs.
- Preference Groups:
- Women (priority for widows, single women).
- Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC).
- Persons with disabilities and transgender individuals.
Application Process
Offline Process
- Application through Lenders:
- Approach any participating Primary Lending Institution (PLI) such as banks or housing finance companies.
- Form Submission:
- Collect and fill out the application form.
- Submit the completed form with required documents to the lender.
- Verification and Disbursement:
- The lender verifies eligibility and disburses the loan.
- Subsidy Credit:
- After loan disbursement, the lender claims the subsidy from Central Nodal Agencies (CNAs).
- Subsidy amount is credited to the borrower’s loan account.
Tracking Application
- Visit the CLSS Awas Portal (CLAP).
- Use the CLSS Tracker to check application status using the Application ID.
Documents Required
- Identity Proof: Aadhaar Card, PAN Card.
- Residence Proof: Utility bill, Voter ID, or similar.
- Income Proof: Salary slips, IT Returns.
- Bank Details: Passbook or account statement.
- Property Documents: Sale deed or construction agreement.
- Other Documents: As specified by the lender.
Frequently Asked Questions (FAQs)
- What is CLSS-MIG?
- A housing subsidy scheme offering interest benefits for middle-income groups under PMAY-U.
- Who can apply?
- Individuals with annual income between ₹6 lakhs and ₹18 lakhs and no prior ownership of a pucca house.
- What is the maximum loan tenure?
- 20 years.
- How is the subsidy disbursed?
- Subsidy is credited upfront to reduce the principal amount of the housing loan.
- Are additional loans eligible for subsidy?
- No, loans exceeding the eligible amount are charged at a non-subsidized rate.
- Can unmarried adults apply?
- Yes, unmarried earning adults are treated as separate households.
- Can NRIs benefit from CLSS-MIG?
- Yes, provided they meet all eligibility criteria.
Sources and References
- Official PMAY-U Website
- CLSS Guidelines
- CLSS Awas Portal (CLAP)