As per Credit Linked Subsidy Scheme, 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 15 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 %.
The credit linked subsidy will be available only for loan amounts upto Rs 6 lakhs and additional loans beyond Rs. 6 lakhs, if any, will be at non-subsidized rate. Interest subsidy will be credited upfront to the loan account of beneficiaries through lending institutions resulting in reduced effective housing loan and Equated Monthly Installment (EMI).
Credit linked subsidy would be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing. The carpet area of houses being constructed under this component of the mission should be upto 30 square metres and 60 square metres for EWS and LIG, respectively in order to avail of this credit linked subsidy. The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.
Application Form dully filled in
Self-Affidavit Income Certificate (only if the income is
below taxable limit)
Unique Identification – PAN Card / Aadhar No. / Voter’s
Card/ Driving License/ MNREGA No./ Any Other Number or A Certificate of
house ownership from Revenue Authority of Beneficiary’s Native District,
Nationality Identification Proof
Proof of category (belonging to SC/ST/OBC/Minority etc.)
Copy of Address Proof
Income Proof – Original Salary Slip/ Salary Certificate/
Latest I.T. Return/ I.T. assessment Order/Form No. 16 if
Statement of Bank Accounts – last 6 months
A brief note on the nature of business/ activity/
self-drawn attested financial statement/ business license in case of
Valuation certificate from the approved Valuer, if not
The approved plan of Construction.
Architects/Engineers Certificate confirming cost of
construction/ cost of repairs/ Cost of improvements/ cost of
Architects Certificate confirming expected life, fitness
and future of Flat/ House in case of purchase.
Agreement for construction with Builder/ Developer
NOC from Housing Society/ Competent Authority
Affidavit-cum-Undertaking to the effect that the
construction is in an authorized area, construction is strictly as per
sanctioned plan/ building bye-laws, loan is being availed for acquiring
plot/ house/ flat for residential purpose only.
Receipt of advance payment made to builder/ seller. If
Affidavit from the beneficiary that either he/ she or any
of the family members do not own a pucca house (all weather dwelling unit)
in any part of India.
Letter of Allotment of Property (where property is
proposed to be purchased from builder/ housing boards, etc)/OR Agreement to
Sale (where resale property is proposed to be purchased), Titile deeds/
Lease Deed/ Mutation in respect of pre-owned property, which is to be