Home Renovation Clss Scheme Under Pmay Full Details

Home Renovation Clss Scheme: A subsidy of 2.67 lakhs is currently given to the applicant on the purchase of a new house-flat under the Pradhan Mantri Awas Yojana. Now the applicant is similarly eligible for subsidy from the government on the loan taken by the applicant for renovating an old house or for paving a raw house which most of the applicants are not aware of.

Home Renovation Clss Scheme

In the same way that the central government provides interest assistance on the purchase of a new house, subsidy assistance is also provided on these loans under the Housing for All Mission.

However, for that, the applicant has to submit the necessary proofs to the authorized bank, housing finance company or cooperative bank. Also, it has to be clearly stated in the application that the applicant wants to take advantage of the Credit Link Subsidy Scheme (CLSS) while taking the loan. Financial Institutions as well as applicant’s eligibility to claim interest subsidy which is verified by those back. Thereafter, at the end of every month, the National Housing Bank will send the application to HUDCO for labour.

The subsidy amount will be credited to the applicant’s account accordingly following the prescribed procedure of Pradhan Mantri Awas Yojana. A voucher or certificate will be issued to the applicant by the committee. The applicant has to submit this certificate in return on the basis of which the amount of interest subsidy will be credited to the account of the applicant.

These people will not get help

The applicant should not have availed any scheme of Government of India for availing interest subsidy amount on loan. If the applicant who wants to renovate his/her house or to make the raw house ready, he/she should not have availed any housing scheme of Govt of India. He will be eligible for subsidy only if he has not availed such benefit.

Not only this but the applicant can avail this benefit only if no member of the applicant’s family should own a fixed house of their own across India. The persons to be included in the applicant’s family include his spouse and unmarried children.

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