Pradhan Mantri Awas Yojana for MIG (1 and 2) {Middle Income Group}

Pradhan Mantri Awas Yojana for MIG (1 and 2) {Middle Income Group, midel class family}

Well the entire nation would be well aware of the housing scheme carried by the central government led by BJP for poor and below poverty line families all over the nation. On the eve of this year 2017, the PM of the nation Mr. Modi has announced a new up-gradation of the existing PM Awas Yojana Loan Scheme.

Pradhan Mantri Awas Yojana for MIG

Interest Rates, CLSS & Subsidy of PM Awas Yojana Loan Scheme for MIG 1 and MIG 2


Sl. No. Details about the group CLSS for the MIGs
1 Annual Income of the applicant(s) Rs. 6,00,001 up to Rs. 12,00,000 Rs. 12,00,001 up to Rs. 18,00,000
2 Interest Subsidy available per year 4% 3%
3 Tenure for credit repayment 20 20
4 Housing Credit for Interest for Interest Subsidy Rs. 9,00,000 Rs. 12,00,000
5 Residential Carper Area 160 sq. m 200 sq.m
6 Discounted NVP on interest 9% 9%
7 Up front amount Rs. 2,35,068 Rs. 2,30,156


  • In general this ‘housing for all‘ middle class families will be implemented with the interest subsidy percent of 3% and 4% based on the net annual incomes of the beneficiaries respectively 12 (MIG 1) and 18 lakh (MIG 2).
  • However, the Interest subsidy will be applicable only if the applicant gets loan within 9Lakh for those who earns Rs. 12Lakh annually and within Rs.12 Lakh for those who earns Rs. 16 Lakh.
  • Under this new PMAY of MIG, people from the eligible category can able to avail cash loan of Rs. 6 to 18 Lakhs depending upon their net income level which will be calculated on annual basis.
  • The loan amount provided under this PMAY Urban (MIG) will comes with the net interest rate of 9%, however, the government offers subsidy on the interest rates depending upon the annual incomes & loan amount of the beneficiaries.

Pradhan Mantri Awas Yojana for middle-income groups

As per the announcement made by the PM of India, the central government recently released official statement of introducing Pradhan Mantri Awas Yojana for middle-income groups of the Indian society.  Well the entire welfare plan comes under the part of the existing ‘Housing for all’ initiatives that is being implemented all over the nation for the past few years.

This PM Awas Yojana for urban middle class people has been officially named as the Credit Linked Subsidy Scheme for Middle Income Groups – CLSS (MIG) by the relevant government sectors. According to the process followed in the CLSS (MIG) the middle income groups of the Indian society has been divided into two different groups based on their annual incomes.


  • In order to avail benefits under this scheme, there should be no homes registered under the names of applicant or any other the family members.
  • Similarly, the applicant of this special housing loan scheme must not gained by the benefits of any other housing schemes offered by the governments of India.
  • An adult living with his parent and does not own a pucca house can apply in this scheme separately.

Highlighting Factors of this scheme

  • As per the date reveled by the governments of India, under this PMAY (MIG) it is founded that around 1,2017 housing loans are eligible and approved by the financial bodies of the nation.
  • Under this special housing loan scheme for MIG families, the loan amounts are offered with the loan tenure period of around 20 years and for lesser interest rates when compared with normal housing loans offered by the nationalized banks.
  • As per the newly introduced CLSS for MIG loan scheme, preference will be given to the women especially those who are insecure and living as a single. Also transgender people too get preference under this new housing loan scheme

Announcement from Prime Minister of India on New Year’s Eve

While addressing to the nation people on the Eve of this recent New Year 2017, the Prime Minister of India Mr. Modi has quoted that his dream scheme of providing affordable houses for the homeless poor people Awas Yojana is about to be extended for the Middle Class Groups category. Owing to that majority of the homeless people of the nation would be able to get proper housing under the finance assistances of government of India.

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