Akme Star HFC is a Primary Lending Institution (PLI) under the PMAY program established by MHUPA as a part of Government of India’s mission “Housing for All”. Under the CLSS (Credit Linked Subsidy Scheme), the first-time home owners having family income of up to Rs.18 lacs can avail subsidy of up to Rs.2.67 lakhs on their home loans availed for purchase/self-construction of housing units in PMAY notified towns.
Customer Type | Annual household Income | Max Loan Amt for subsidy | Rate of subsidy | Carpet Area | Max Subsidy |
---|---|---|---|---|---|
EWS / LIG | Up to Rs.6 lakhs | 6 lakhs | 6.5% | 60 sq.m. | Rs.2.67 lakhs |
MIG I | Rs.6.01-12 lakhs | 9 lakhs | 4.0% | 160 sq.m. | Rs.2.35 lakhs |
MIG II | Rs.12.01-18 lakhs | 12 lakhs | 3.0% | 200 sq.m. | Rs.2.30 lakhs |
- Loan availed by EWS / LIG household must be approved not before 17-06-2015 and Loan availed by MIG I / MIG II household must be approved not before 01-01-2017
- Woman home ownership is mandatory for EWS / LIG households in order to avail subsidy
- Aadhar card number is mandatory for subsidy application under MIG category
- EWS / LIG can also avail subsidy for loans taken towards improvement of their homes (woman home ownership not compulsory)
- Discount rate of 9% and maximum tenure of 20 years would be applied for calculation of subsidy amount, also known as Net Present Value (NPV)
- No cap on loan amount. Loan amount above the maximum limit will not be considered in subsidy calculation and will be considered as non-subsidized
- CLSS scheme for EWS / LIG customers is made available till March 31, 2022, whereas for MIG I / II households is made available till March 31, 2020