/ -- Bajaj Housing Finance Limited (BHFL) has made affordable housing a reality by offering credit linked subsidy scheme (CLSS) known as Pradhan Mantri Awas Yojana (Urban) or (PMAY-U) to the tune of Rs. 50 crore. Till date, a whopping greater than 4,000 applications for the Credit Linked Subsidy Scheme (CLSS) have been processed.
The interest subsidy comes as a boon to first-time homebuyers, helping them reduce their loan EMIs and thereby, own a flat or a home without exceeding their budget. The company's offerings are in line with the Government of India's vision of providing affordable housing to every citizen by 2022.
How much subsidy can a customer claim?
The extent of subsidy that a beneficiary family is allowed to claim depends on the household income and other conditions levied by government. Households with annual income of up to Rs.3,00,000 are considered to be a part of the Economically Weaker Section (EWS) and those with incomes between Rs.3,00,001 and Rs.6,00,000 are part .
