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Finance

How to apply for Pradhan Mantri Awas Yojana (PMAY)

In 2015, the Government of India launched a scheme to help the financially deprived population living in urban areas to get a roof over their heads –known as the Pradhan Mantri Awas Yojana. The PMAY Scheme envisages ‘affordable housing for all’ by providing borrowers with the financial resources they need to buy a home through an interest rate subsidy. Credit Linked Subsidy Scheme (CLSS) is a component of PMAY for Lower Income Group/Economically Weaker Section (EWS/LIG) and Middle Income Group (MIG -I & II). Under this scheme, not only the economically weaker sections but also middle-income groups can avail home loans at reduced EMIs. Two central nodal agencies such as the National Housing Bank (NHB) and Housing & Urban Development Corporation (HUDCO) channelize the interest subsidy. The apex government bodies channel subsidies to the lending institutions and help the eligible applicants to avail subsidy. At Shubham, our goal is that everyone should have their own home. We help you to fulfill your dream through the […]