To benefit from the Credit Linked Subsidy Scheme (CLSS), applicants must meet specific eligibility criteria. Primarily, the scheme targets Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG) with defined income ceilings. Additionally, the beneficiary family should not own a pucca house in their name in any part of India. Women applicants, especially single or widowed women, and applicants from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC) are given priority. The application process involves submitting a home loan application to a Primary Lending Institution (PLI) like banks or housing finance companies. Upon approval, the PLI processes the subsidy claim with the Central Nodal Agencies, which then disburse the subsidy amount directly to the lender. This reduces the loan principal, effectively lowering the EMI burden for the borrower. The streamlined process ensures timely assistance and encourages wider participation.
https://kathiriyasubsidyhouse.com/