List Of Housing Finance Companies From Which You Can Easily Avail PMAY Benefits

The Pradhan Mantri Awas Yojana (PMAY) scheme is a government of India's flagship scheme that was launched in June 2015 to provide affordable housing to individuals falling under LIG and MIG.

 

With a mission of "Housing for All" in urban areas by the year 2022, the government provides a credit-linked subsidy to first-time homeowners on interest rates on their home loans. They are contributing about 1 lakh to 2.6 lakh for each home falling under the different vertical scheme.

 

Additionally, the government announced that the GST rate applicable on home loans would be reduced from 12% to 8% for those who apply for the loan under the Pradhan Mantri Awas Yojana schemes.

 

Take a quick look at the housing finance companies from which you can easily avail the PMAY benefits:

 

1. Shubham Housing finance:

The Pradhan Mantri Awas Yojana scheme caters mainly to the housing requirements of the urban poor. Shubham believes in the mission of Housing for All. A key growth driver of this initiative is Pradhan Mantri Awas Yojana - Credit Linked Subsidy Scheme (PMAY- CLSS). More than 10.5 lakh families have benefitted from this scheme.

 

Once you know you are eligible, you can avail a home loan from Shubham Housing Finance to finance the purchase of your first house and reduce your EMI burden with the help of PMAY.

 

2. Indiabulls Housing Finance:

Lakhs of homes have been constructed in 500 Indian cities and towns, since the launch of PMAY scheme

 

Indiabulls provides the affordable housing benefits of Pradhan Mantri Awas Yojana scheme through a credit-linked subsidy scheme known as CLSS. The maximum subsidy amount is calculated basis the minimum loan amount of 6 Rs. 6 lakhs for EWG/LIG customers, Rs 9 lakhs for MIG I & Rs 12 lakhs for MIG II customers with a loan tenure of 20 years.

 

You can also apply for loans at Indiabulls Housing Finance and enjoy the benefits of PMAY subsidy.

 

3. Aadhar Housing Finance

 

Adhaar empowers all the first time home buyers with a subsidy of up to 2.67 lakhs to own a house and build a house for their family. The beneficiary family should not own a pucca house in the name of any member of his/her family. Aadhar Housing finance allows you to own dream home and avail the PMAY interest subsidy.

 

4. Bajaj Finserv

PMAY has played a significant role in providing affordable housing. The purpose of this scheme is to offer interest subsidy for home purchases and by constructing affordable housing too.

 

Once you are eligible, you can then apply for a Home Loan under PMAY with lenders like Bajaj Finserv. This will allow you to avail of the benefits of the PMAY scheme along with the flexible terms of repayment, thereby adding affordability to your home purchase.

 

5. Art Housing Finance

 

For availing the subsidy under the Pradhan Mantri Awas Yojana, you have to apply for the home loans from NBFC or Housing Finance companies whichever you find best as per your requirement. After the approval of the Central Nodal Agency, the subsidy amount will be transferred directly to your bank account.

 

These are some of the best Housing Finance companies from which you avail the benefits of the PMAY Home Loan scheme. Do let us know in the comment section, if you want us to add anything more or if you have any queries.