Affordable Housing Loan with Government Subsidy under PMAY 2.0

Описание: Affordable Housing Loan with Government Subsidy under PMAY 2.0

Affordable Housing Categories in India – Income & Property Eligibility

The Government of India has categorized households into different income groups to ensure that affordable housing benefits reach those who need it the most. These classifications help in deciding subsidy eligibility under schemes like PMAY (Pradhan Mantri Awas Yojana).

There are four major categories:

EWS (Economically Weaker Section)
Households with annual income up to ₹3 lakh fall under this group. They are eligible for homes with a carpet area of 30–60 sq.m.

LIG (Low Income Group)
Households earning ₹3 lakh to ₹6 lakh annually come under LIG. They can avail housing units with a carpet area of around 60 sq.m.

MIG-1 (Middle Income Group – 1)
Families with income between ₹6 lakh to ₹12 lakh are considered MIG-1. They can purchase homes with a carpet area of about 90 sq.m.

MIG-2 (Middle Income Group – 2)
This category includes households earning ₹12 lakh to ₹18 lakh per year. They can opt for larger houses with carpet area up to 110 sq.m.


Credit Linked Subsidy Scheme (CLSS) for Middle-Income Group

The Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) is a major initiative by the Government of India to support middle-income families in purchasing their first home. This scheme provides interest subsidies on home loans, reducing the financial burden for eligible homebuyers.

Under CLSS for the Middle-Income Group (MIG), households with an annual income ranging between ₹12 lakh to ₹18 lakh can avail the benefits. Eligible applicants can receive a subsidy of up to ₹2.35 lakh, directly helping to lower their home loan interest.

This subsidy reduces the EMI burden, making homeownership more affordable and achievable for families seeking to buy their dream home. Through this initiative, the government aims to encourage homeownership and ensure better housing opportunities for India’s aspiring middle class.


Murari Garg


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