Government of India approved amendments in Pradhan Mantri Awas Yojana (Urban)- Housing For All Mission Guidelines vide Ministry of Housing & Urban Poverty Alleviation letter No. I-11016/15/2016-HFA-4(eoffice no. 3017120) dated 11 March, 2017. Here is the approved amendment in PMAY (Urban) - Housing For All guidelines: (For official notification issued by the government please see the end of the post) :
AMENDMENTS APPROVED IN PRADHAN MANTRI AWAS YOJANA (URBAN) – HOUSING FOR ALL
MISSION GUIDELINES
| Para Number
|
Existing Paragraph/sub-paragraph
|
Amended Paragraph/sub-paragraph
|
| 5.1
|
Beneficiaries of Economically Weaker section (EWS) and Low
Income Group (LIG) seeking housing loans from Banks,
Housing Finance Companies and other such institutions would
be eligible for an interest subsidy at the rate of 6.5 %
for a tenure of 15 years or during tenure of loan whichever
is lower. The Net Present Value (NPV) of the interest
subsidy will be calculated at a discount rate of 9 %.
|
Beneficiaries of Economically Weaker section (EWS) and Low
Income Group (LIG) seeking housing loans from Banks,
Housing Finance Companies and other such institutions would
be eligible for an interest subsidy at the rate of 6.5 %
for a tenure of 20 years or during tenure of loan whichever
is lower. The Net Present Value (NPV) of the interest
subsidy will be calculated at a discount rate of 9 %.
|
| 15.5
|
In lieu of the processing fee for housing loan for the
borrower under the scheme, PLIs will be given a lump sum
amount of Rs. 1000 per sanctioned application. PLIs will
not take any processing charge from the beneficiary.
|
In lieu of the processing fee for housing loan for the
borrower under the scheme, PLIs will be given a lump sum
amount of Rs. 3,000/- (Rupees Three Thousand only) per
sanctioned application. PLIs will not take any processing
charge from the beneficiary for housing loans upto Rs. 6
lakh under the Scheme. For additional loan amounts beyond
Rs. 6 lakh, PLIs can charge the normal processing fee.
|
| 5.12
|
In line 4, For: the text “PLIs should take
NOCs quarterly from State /UT Government or designated
agency of State / UT Governments for the list of
beneficiaries being given benefits under credit linked
subsidy”.
|
Read
: “PLIs should take NOCs quarterly from State /UT
Government or designated agency of State / UT Governments
for the list of EWS beneficiaries being given benefits
under credit linked subsidy”.
|
| 5.13
|
--
|
Primary Lending Institutions, in the home loan
applications, shall disclose transparently the Scheme
eligibility and ascertain willingness and eligibility of
applicants under CLSS for EWS/LIG.
|
| PMAY (Urban) guidelines
|
For: ‘CLSS’,
wherever it occurs in the scheme guidelines, MoUs and
related documents
|
Read: ‘CLSS for EWS/LIG’
, wherever it occurs in the scheme guidelines, MoUs and
related documents
|
| Definitions
|
Primary Lending Institutions (PLI) : Scheduled Commercial
Banks, Housing Finance Companies, Regional Rural Banks
(RRBs), State Cooperative Banks, Urban Cooperative Banks or
any other institutions as may be identified by the
Ministry.
|
Primary Lending Institutions (PLI): Scheduled Commercial
Banks, Housing Finance Companies, Regional Rural Banks
(RRBs), State Cooperative Banks, Urban Cooperative Banks,
Small Finance Banks, Non Banking Financial Company-Micro
Finance Institutions’ (NBFC-MFIs) or any other institutions
as may be identified by the Ministry.
|
Here is the official notification :
Source:
[http://mhupa.gov.in/writereaddata/CLSS-EWSLIG-Amendments$2017Mar11182909.pdf]
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