Beneficiaries of Economically Weaker Section (EWS)/Low Income Group (LIG), Middle Income Group (MIG)-I and Middle Income Group (MIG)-II seeking housing loans from Banks, Housing Finance Companies and other such institutions for acquiring, new construction or enhancement* of houses are eligible for an interest subsidy of 6.5%, 4% and 3% on loan amount upto Rs. 6 Lakh, Rs. 9 Lakh and Rs. 12 Lakh respectively. The Ministry has designated Housing and Urban Development Corporation (HUDCO), National Housing Bank (NHB) and State Bank of India (SBI) as Central Nodal Agencies (CNAs) to channelize this subsidy to the beneficiaries through lending institutions and for monitoring the progress. The scheme for MIG category has been extended upto 31st March, 2021. The CLAP portal has significantly contributed towards streamlining processes under CLSS vertical which has also facilitated the Ministry in reducing in grievances.
- A Centrally Sponsored Scheme (CSS)
- Interest subvention on home loans taken by eligible urban poor (EWS/LIG) for acquisition, construction or enhancement of house
- For the first time, Middle Income Group (MIG) has been included for a housing scheme in the country.
- Validity of scheme till 31st March 2020