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With the vision of providing housing for all Indians, the Ministry of Housing and Urban Poverty Alleviation, in 2015, introduced an interest subsidy scheme called the Credit Linked Subsidy Scheme. This scheme under the Pradhan Mantri Awas Yojana provides housing solutions across purchase, construction, extension, improvement of a home to cater to the Economical Weaker Section(EWS), Lower Income Group (LIG), Middle Income Group (MIG), driven by the projected growth of urbanisation and consequent housing demands of India.

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  • The beneficiary family should not own a pucca house in his/her or in the name of any member of his/her family in any part of India.
  • In case of married couple, either of or both spouses together in joint ownership will be eligible for a single subsidy.
  • The beneficiary family should not have availed of central assistance under any housing scheme from Government of India or any benefit under any scheme in PMAY.
    The beneficiary family will comprise husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)
    All statutory towns as per Census 2011 and towns notified subsequently, including planning area as notified with respect to statutory town.
Scheme Type
Eligibility Household
Carpet Area-
Max (sqm)
Interest Subsidy (%)Subsidy calculated
on a max loan of
Loan Purpose
EWS and LIGUpto ₹ 6,00,00060 sqm6.50 %₹ 6,00,000Purchase/Self Construction
MIG 1 **₹ 6,00,001 to ₹ 12,00,00090 sqm4.00 %₹ 9,00,000Purchase/Self Construction
MIG 2 **₹ 12,00,001 to ₹ 18,00,000110 sqm3.00 %₹ 12,00,000Purchase/Self Construction


We are in the business of financial planning but the day I finalised my property, I needed to get a loan and I found Piramal to be the best option. They cater to all the requirements of the customers and helped me at every single step along the way.

Nirmal Dand,
Financial Planner