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PRADHAN MANTRI AWAS YOJANA (URBAN) – HOUSING FOR ALL MISSION :: CREDIT LINKED SUBSIDY SCHEME FOR MIDDLE INCOME GROUP :: (CLSS for MIG) List of Primary Lending Institutions (PLIs) who have signed MoUs with Central Nodal Agencies1 (CNAs) (Status as on 31.03.2017) Category of PLI NHB HUDCO TOTAL Housing Finance Companies 64 - 64 Public Sector Banks 15 1 16 Private Sector Banks 6 1 7 Regional Rural Banks 5 4 9 Co-Operative Banks 8 7 15 Small Finance Bank 5 - 5 Non Banking Finance Company - Micro Finance Institution 2 1 3 Total 105 14 119 No. Name of the PLI Website Address Associated CNA HOUSING FINANCE COMPANIES (HFCs) 1 Aadhar Housing Finance Ltd. www.aadharhousing.com NHB 2 Aditya Birla Housing Finance Limited www.adityabirlahomeloans.com NHB 3 Aptus Value Housing Finance India Ltd. www.aptusindia.com NHB 4 Aspire Home Finance Corporation Ltd. www.ahfcl.com NHB 5 AU Housing Finance Ltd. www.auhfin.in NHB 6 Bee Secure Home Finance Pvt. Ltd. www.incred.com NHB 7 Canfin Homes Ltd. www.canfinhomes.com NHB 8 Capital First Home Finance Ltd. www.capfirst.com NHB 9 Capri Global Housing Finance Pvt. Ltd. www.cgcl.co.in NHB 1 CNAs - NHB:National Housing Bank; HUDCO: Housing and Urban Development Corporation Ltd. CLSS Toll-Free Helpline Numbers: NHB: 1800-11-3377 / 1800-11-3388 and HUDCO: 1800-11-6163 Page 2 / 5 No. Name of the PLI Website Address Associated CNA 10 Cent Bank Home Finance Ltd. www.cbhfl.com NHB 11 Centrum Housing Finance Ltd. www.centrum.co.in NHB 12 Dewan Housing Finance Corporation Ltd. www.dhfl.com NHB 13 DHFL Vyasa Housing Finance Ltd. www.dvhousing.com NHB 14 DMI Housing Finance Pvt. Ltd. www.dmihousingfinance.in NHB 15 Edelweiss Retail Finance Limited www.edelweissfin.com NHB 16 Fast Track Housing Finance Pvt. Ltd. www.fasttrackhfc.com NHB 17 GIC Housing Finance Ltd. www.gichfindia.com NHB 18 Gruh Finance Ltd. www.gruh.com NHB 19 Hinduja Housing Finance Ltd. www.hindujahousingfinance.com NHB 20 Home First Finance Corporation Ltd. www.homefirstindia.com NHB 21 Housing and Urban Development Corporation Ltd. www.hudco.org NHB 22 Housing Development Finance Corporation Ltd. www.hdfc.com NHB 23 ICICI Home Finance Company Ltd www.icicihfc.com NHB 24 IKF Housing Finance Pvt. Ltd. www.ikffinance.com NHB 25 India Home Loans Ltd. www.indiahomeloan.co.in NHB 26 India Infoline Housing Finance Ltd. www.iiflhomeloans.com NHB 27 India Shelter Finance Corporation Ltd. www.indiashelter.in NHB 28 Indiabulls Housing Finance Ltd. www.indiabullshomeloans.com NHB 29 IndoStar Home Finance Pvt. Ltd. www.indostarcapital.com NHB 30 Khush Housing Finance Ltd. www.khfl.co.in NHB 31 KIFS Housing Finance Pvt. Ltd. www.kifshousing.com NHB 32 L& T Housing Finance Ltd. www.lthousingfinance.com NHB 33 LIC Housing Finance Ltd. www.lichousing.com NHB 34 Magma Housing Finance www.magmahfc.co.in NHB 35 Mahindra Rural Housing Finance Ltd. www.mahindrahomefinance.com NHB 36 Mamta Housing Finance Co. Pvt. Ltd. www.mamtahousingfinance.com NHB 37 Manibhavnam Home Finance India Pvt. Ltd. www.manibhavnam.com NHB 38 MAS Rural Housing & Mortgage Finance Ltd. www.mrhmfl.co.in NHB 39 Mentor Home Loans India Ltd. www.mentorhousing.com NHB 40 Micro Housing Finance Corporation Ltd. www.mhfcindia.com NHB 41 Muthoot Homefin (India) Ltd www.muthootfinance.com NHB 42 Muthoot Housing Finance Company Limited. www.muthootgroup.com NHB CLSS Toll-Free Helpline Numbers: NHB: 1800-11-3377 / 1800-11-3388 and HUDCO: 1800-11-6163 Page 3 / 5 No. Name of the PLI Website Address Associated CNA 43 National Trust Housing Finance Ltd. www.natrusthome.com NHB 44 New Habitat Housing Finance and Development Ltd. www.newhabitat.in NHB 45 North East Region Housing Finance Company Ltd. www.nerhofic.co.in NHB 46 Orange City Housing Finance Ltd. www.ochfl.com NHB 47 PNB Housing Finance Ltd. www.pnbhousing.com NHB 48 RAAS Housing Finance (India) Ltd. www.raashfc.com NHB 49 Reliance Home Finance Ltd. www.reliancehomefinance.com NHB 50 Religare Housing Development Finance Corporation Ltd. www.religarehomeloans.com NHB 51 Repco Home Finance Ltd. www.repcohome.com NHB 52 SEWA Grih Rin Ltd. www.sgrlimited.in NHB 53 Shriram Housing Finance Ltd. www.shriramhousing.in NHB 54 Shubham Housing Development Finance Company Pvt. Ltd. www.shubham.co NHB 55 Sundaram BNP Paribas Home Finance Ltd. www.srghousing.com NHB 56 Supreme Housing Finance Ltd. www.supremehomeloans.com NHB 57 Swagat Housing Finance Company Ltd. www.swagathfc.in NHB 58 Swarna Pragathi Housing Micro Finance Ltd www.swarnapragatihousing.com NHB 59 Tata Capital Housing Finance Ltd. www.tatacapitalhfl.com NHB 60 Ummeed Housing Finance Pvt. Ltd. www.ummeedhfc.com NHB 61 USB Housing Finance Corporation Ltd. www.usbhousing.in NHB 62 Vastu Housing Finance Corporation Ltd. www.vastuhfc.com NHB 63 Viva Home Finance Ltd. www.vivagroup.in NHB 64 West End Housing Finance Ltd. www.westendhfl.com NHB PUBLIC SECTOR BANKS (PSBs) 1 Allahabad Bank www.allahabadbank.in NHB 2 Andhra Bank www.andhrabank.in NHB 3 Bank of Baroda www.bankofbaroda.co.in NHB 4 Bank of Maharashtra www.bankofmaharashtra.in NHB 5 Bhartiya Mahila Bank Ltd. www.bmb.co.in NHB 6 IDBI Bank Ltd. www.idbi.com NHB 7 Indian Bank www.indian-bank.com NHB 8 Indian Overseas Bank www.iob.in NHB CLSS Toll-Free Helpline Numbers: NHB: 1800-11-3377 / 1800-11-3388 and HUDCO: 1800-11-6163 Page 4 / 5 No. Name of the PLI Website Address Associated CNA 9 Oriental Bank of Commerce www.obcindia.co.in NHB 10 Punjab & Sind Bank www.psbindia.com NHB 11 Punjab National Bank www.pnbindia.in NHB 12 State Bank of India www.sbi.co.in NHB 13 Syndicate Bank www.syndicatebank.in NHB 14 Union Bank of India www.unionbankonline.co.in NHB 15 United Bank of India www.unitedbankofindia.com NHB 16 Vijaya Bank www.vijayabank.com HUDCO PRIVATE SECTOR BANKS (PVBs) 1 Axis Bank Ltd. www.axisbank.com NHB 2 Catholic Syrian Bank www.csb.co.in NHB 3 ICICI Bank Ltd. www.icicibank.com NHB 4 Karnataka Bank Ltd. www.karnatakabank.com NHB 5 Lakshmi Vilas Bank www.lvbank.com NHB 6 Yes Bank www.yesbank.in NHB 7 City Union Bank www.cityunionbank.com HUDCO REGIONAL RURAL BANKS (RRBs) 1 Baroda Gujarat Gramin Bank www.bggb.in NHB 2 Dena Gujarat Gramin Bank www.dggb.co.in NHB 3 Madhyanchal Gramin Bank www.mgbank.co.in NHB 4 Maharashtra Grameen Bank www.mahagramin.in NHB 5 Saurashtra Gramin bank www.sgbrrb.org NHB 6 Bangiya Gramin Vikas Bank www.bgvb.co.in HUDCO 7 Meghalaya Rural Bank www.meghalayaruralbank.co.in HUDCO 8 Telangana Grameena Bank www.tgbhyd.in HUDCO 9 Uttarakhand Gramin Bank www.uttarakhandgraminbank.com HUDCO CLSS Toll-Free Helpline Numbers: NHB: 1800-11-3377 / 1800-11-3388 and HUDCO: 1800-11-6163 Page 5 / 5 No. Name of the PLI Website Address Associated CNA CO-OPERATIVE BANKS 1 Prime Co-operative Bank Ltd www.primebankindia.com NHB 2 Punjab & Maharashtra Cooperative Bank Ltd www.pmcbank.com NHB 3 Rajkot Nagarik Sahakari Bank Ltd www.rnsbindia.com NHB 4 Saraswat Cooperative Bank Ltd. www.saraswatbank.com NHB 5 Sarvodaya Commercial Co-operative Bank Ltd. www.sccbank.in NHB 6 The Greater Bombay Cooperative Bank Ltd. www.greaterbank.com NHB 7 The Gujarat State Cooperative Bank Ltd www.gscbank.co.in NHB 8 The Kalyan Janata Cooperative Bank www.kalyanjanata.in NHB 9 Nutan Nagarik Sahakari Bank Ltd. www.nutanbank.com HUDCO 10 Mehsana Urban Co-Operative Bank Ltd. www.mucbank.com HUDCO 11 Uttarakhand State Cooperative Bank Ltd. www.ukstcbank.com HUDCO 12 Kalupur Commercial Co-operative Bank Ltd. www.kalupurbank.com HUDCO 13 Odisha State Cooperative Bank www.oscb.coop HUDCO 14 The Surat People's Cooperative Bank Ltd. www.spcbl.in HUDCO 15 Shri Mahila Sewa Sahakari Bank Ltd. www.sewabank.com HUDCO SMALL FINANCE BANKS 1 AU Financiers Ltd. www.aufin.in NHB 2 Equitas Small Finance Bank www.equitasbank.com NHB 3 Suryoday Small Finance Bank Ltd. www.suryodaybank.com NHB 4 Ujjivan Small Finance Bank www.ujjivan.com NHB 5 Utkarsh Micro Finance Ltd. www.utkarshmfi.com NHB NON BANKING FINANCE COMPANY - MICRO FINANCE INSTITUTION 1 Annapurna Microfinance Pvt. Ltd. www.ampl.net.in NHB 2 Satyam Micro Capital Ltd. www.satyamicrocapital.com NHB 3 Cholamandalam Investment & Finance Company Ltd. www.cholamandalam.com HUDCO
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Pradhan Mantri Awas Yojana- Housing for All (Urban)At the slum decadal growth rate of 34%, the slum households are projected to go upto 18 million. 2 million non-slum urban poor households are proposed to be covered under the Mission. Hence, total housing shortage envisaged to be addressed through the new mission is 20 million.The Mission is being implemented during 2015-2022 and provides central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for:In-situ Rehabilitation of existing slum dwellers using land as a resource through private participationCredit Linked SubsidyAffordable Housing in PartnershipSubsidy for beneficiary-led individual house construction/enhancement.Credit linked subsidy component is being implemented as a Central Sector Scheme while other three components as Centrally Sponsored Scheme (CSS).All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.In the spirit of cooperative federalism, mission provides flexibility to the States for choosing the best options amongst four verticals of mission to meet the demand of housing in their states. Process of project formulation and approval in accordance with the mission Guidelines has been left to the States so that projects can be formulated, approved and implemented fasterA Technology Sub-Mission under the Mission has been set up to facilitate adoption of modern, innovative and green technologies and building material for faster and quality construction of houses. Technology Sub-Mission also facilitates preparation and adoption of layout designs and building plans suitable for various geo-climatic zones. It will also assist States/Cities in deploying disaster resistant and environment friendly technologies.
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Definitionsforthe purposes of the SchemeBeneficiary A beneficiary family will comprise of husband, wife, unmarriedsons and/or unmarried daughters. An adult earning member(irrespective of marital status) can be treated as a separatehousehold;Provided that he / she does not own a pucca (an all weatherdwelling unit) house in his / her name in any part of India.Provided also that in the case of a married couple, either of thespouses or both together in joint ownership will be eligible fora single house, subject to income eligibility of the householdunder the Scheme.Carpet Area Area enclosed within the walls, actual area to lay the carpet. This areadoes not include the thickness of the inner walls.Central Nodal Agencies Nodal Agencies identified by Ministry for the purposes ofimplementation of Credit Linked Subsidy Scheme for Middle IncomeGroup.Middle Income Group(MIG) - I:MIG - I households are defined as households having an annual incomebetween Rs.6, 00, 001 (Rupees Six Lakh One) up to Rs.12, 00, 000(Rupees Twelve Lakh).Middle Income Group(MIG) - II:MIG - II households are defined as households having an annual incomebetween Rs.12, 00, 001 (Rupees Twelve Lakh One) up to Rs.18, 00, 000(Rupees Eighteen Lakh).Primary LendingInstitutions (PLIs)Scheduled Commercial Banks, Housing Finance Companies, RegionalRural Banks (RRBs), State Cooperative Banks, Urban Cooperative Banks, Small Finance Banks, Non Banking Financial Company – Micro FinanceInstitutions (NBFC-MFIs) or any other institutions as may be identifiedby the Ministry.1Credit Linked Subsidy Scheme for MIG – Operational Guidelines
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The Mission, in order to expand institutional credit flow to the housing needs of urban poor will implement credit linked subsidy component as a demand side intervention.Interest subsidy will be credited upfront to the loan account of beneficiaries through Primary Lending Institutions resulting in reduced effective housing loan and Equated Monthly Instalment (EMI). The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.Credit Linked Subsidy Scheme for EWS/LIGBeneficiaries 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 20* years or during tenure of loan whichever is lower.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 nonsubsidized rate. 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.Credit Linked Subsidy Scheme for MIG* The newly launched CLSS for MIG covers two income segments in the MIG viz. Rs.6, 00, 001 to Rs.12, 00, 000 (MIG-I) and Rs.12, 00, 001 to Rs.18, 00, 000 (MIG-II) per annum. In the MIG-I, an interest subsidy of 4% has been provided for loan amounts up to Rs.9 lakh while in MIG-II, an interest subsidy of 3% has been provided for loan amount of Rs.12 lakh. The interest subsidy will be calculated at 9% NPV over a maximum loan tenure of 20 years or the actual tenure, whichever is lesser. Housing loans above Rs. 9 lakh and Rs. 12 lakh will be at non-subsidized rates.CLSS for MIG will support acquisition/ construction of house (including re-purchase) of 90 square meters and 110 square meters carpet area as per income eligibilityHousing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress of this component. Ministry may notify other institutions as CNA in future.Under the Mission, beneficiaries can take advantage under one component only.For details, please refer to website section on Guidelines.*with effect from 01.01.2017
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Scope1.1 “Pradhan Mantri Awas Yojana (Urban) – Housing for All” Mission for urban areasis being implemented with effect from 17.06.2015 to provide central assistance toimplementing agencies through States and UTs for providing houses to all eligiblefamilies/ beneficiaries. As a Central Sector Scheme, the existing Credit Linked SubsidyScheme (CLSS) component of the Mission provides interest subsidy on home loanstaken by eligible urban poor [Economically Weaker Section (EWS) / Lower IncomeGroup (LIG)] for acquisition/construction of house.1.2 Given the projected growth of urbanization in India and the consequent housingdemands, Ministry of Housing and Urban Poverty Alleviation hereby introduces aninterest subsidy scheme for acquisition/ construction of house (including re-purchase)to cater to the Middle Income Group (MIG) called “Credit Linked Subsidy Scheme(CLSS) for MIG”, which will also be implemented as a Central Sector Scheme.1.3 The existing Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana (Urban)Mission has, accordingly, been renamed as “CLSS for EWS/LIG”.1.4 To be eligible to receive central assistance under CLSS for MIG:1.4.1 The beneficiary family should not own a pucca1 house either in his/her nameor in the name of any member of his/her family in any part of India.1.4.2 A beneficiary family should not have availed of central assistance under anyhousing scheme from Government of India.1.5 A beneficiary family will comprise husband, wife, unmarried sons and/or unmarrieddaughters. An adult earning member (irrespective of marital status) can be treated asa separate household;Provided that he / she does not own a pucca1 house in his / her name in anypart of India.Provided also that in the case of a married couple, either of the spouses orboth together in joint ownership will be eligible for a single house, subject toincome eligibility of the household under the Scheme.1.6 CLSS for MIG will be implemented initially in 2017 for a period of one year w.e.f1.01.2017.
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Implementation Methodology 4.1 The credit linked subsidy will be available only for loan amounts indicated in paragraph 3.1 above for a tenure of 20 years or during tenure of loan whichever is lower. Additional loans beyond the aforementioned specified limit, if any, will be at non-subsidized rate. 4.2 Interest subsidy will be credited upfront to the loan account of beneficiaries through 2 As per definitions for the purpose of the Scheme 3 Credit Linked Subsidy Scheme for MIG – Operational Guidelines Ministry of Housing and Urban Poverty Alleviation Primary Lending Institutions resulting in reduced effective housing loan and Equated Monthly Installment (EMI). 4.3 Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress. Ministry may notify other institutions as CNA in future. 4.4 Primary Lending Institutions (PLIs), identified as Scheduled Commercial Banks, Housing Finance Companies, Regional Rural Banks, State Cooperative Banks, Urban Cooperative Banks, Small Finance Banks3 , Non Banking Financial Company – Micro Finance Institutions (NBFC MFIs)4 or any other institution as may be identified by the Ministry, can register only with one of the CNAs by signing MOU for CLSS for MIG as provided in Annexure 1. 4.5 The Primary Lending Institutions (PLIs) that have signed MoU with the CNAs under the existing CLSS vertical (now to be treated under CLSS for EWS/LIG), of Pradhan Mantri Awas Yojana (Urban) Mission, will be given the option to extend the mandate of their MoU5 to CLSS for MIG. 4.6 Primary Lending Institutions, in the home loan applications, shall disclose transparently the Scheme eligibility and ascertain willingness and eligibility of applicants under CLSS for MIG. 4.7 CNAs will be responsible for ensuring proper implementation and monitoring of the scheme and will put in place appropriate mechanisms for the purpose. CNAs will provide periodic monitoring inputs to the Ministry of Housing and Urban Poverty Alleviation through regular monthly and quarterly reports, as decided by Mission Directorate (Annexure 2). 4.8 Primary Lending Institutions (PLIs) shall link the details of Aadhaar number(s) of beneficiary family to avoid duplication before submitting claims to CNAs. 4.9 Preference under the Scheme, subject to beneficiaries being from MIG segments, may be given to women (with overriding preference to widows, single working women), persons belonging to Scheduled Castes/Scheduled Tribes/Other Backward Classes, Persons with disabilities and Transgender.
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