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Pradhan Mantri Awas Yojana & Affordable Housing Scheme

Feature & Benefits

ABHFL believes that the Government of India's implementation of various policies and initiatives, in order to encourage availability of credit to the affordable housing industry, has provided significant growth opportunities in the housing finance industry. ABHFL aims to continue to provide financing for such housing projects and further expand its housing finance business by increasing the geographic reach in tier 2/3 cities.

Products offered under ABHFL Affordable Housing

  • Home Loan + Home improvement loan: Loan for Home Purchase (new or resale), Renovation or Extension of property
  • Plot purchase + Home construction Loan: Loan for Purchase of residential plot and/or construction of own property
  • Commercial Property Purchase Loan: Loan for Purchase of new or resale commercial property (shops, offices, industrial units)
  • Loan against Property (LAP): Loan against existing residential or commercial property

Features and benefits of ABHFL Affordable Housing

  • Choose between simple EMIs or structured repayments
  • Attractive interest rates
  • Repayment period up to 30 years
  • Offers loans with Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY) to eligible customers
  • Attractive balance transfer option available

Geographical areas/locations covered under ABHFL Affordable Housing

Zone Region Area
East Orissa Bhubaneshwar
WB Kolkata
North NCR Noida, Janakpuri, Meerut, Gurugram
UP+UK Lucknow, Agra
PCH Chandigarh

UP Kanpur

Haryana Panipat

Punjab Ludhiana

Punjab Patiala
South Karnataka Bangalore
Tamil Nadu Chennai, Coimbatore
Telangana Hyderabad
AP Vizag, Vijayawada
West Mumbai Borivali, Kalyan, Palghar, Boisar
VID + CG Nagpur, Raipur
Gujarat Ahmedabad, Vadodara, Surat, Rajkot
Rajasthan Jaipur, Jodhpur, Ajmer
MP Indore

Advantages of availing a loan from Aditya Birla Housing Finance

  • Solution oriented approach as per customer requirement
  • PAN India branch network
  • Home search made simple with our real estate advisory services
  • Quick & transparent processing
  • Robust service delivery model with dedicated Sales Manager


The Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) - 'Housing for All' is a home loan scheme envisions 'Housing for All' by the year 2022. This scheme offers affordable homes to people belonging to the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I), and Middle Income Group-II (MIG-II) of society. Customers (i.e. Beneficiaries) availing this scheme are eligible to avail interest subsidy on the purchase/construction /enhancement of dwelling unit.

Documentation & other eligibility criteria

Particulars Criteria
Identity Proof Copy of Aadhaar mandatory
  • The beneficiary family should not own a pucca house in his/her or in the name of any member of his/her family in any part of India
  • In case of married couple, either of the spouse or both together in joint ownership will be eligible for a single subsidy. Subject to income eligibility of the household under the Scheme
  • The benefits of all existing and future rural schemes will not be denied to a beneficiary
    covered by the above definition solely on the grounds that she/he has availed a house under
Woman Ownership / Co-ownership
  • The houses constructed/acquired should be in the name of the female head of the household or in the joint name of the male head of the household and his wife.
  • Only in cases when there is no adult female member in the family, the house can be in the name of male member of the household
  • The inclusion of name of female head of household shall be ensured by valid registered title/ownership document(s).
  • To enable the applicant to avail benefits of PMAY (U), the inclusion of name of female member of the family in registered title deed/sale deed of the house acquired/purchased during the Mission period, should also be allowed at a later stage and State/UT should make provision for exemption of additional stamp duty and/or registration charges for such cases.
  • State/UT should either exempt or make suitable provision for nominal charges towards stamp duty and/or registration charges of title deed of EWS/LIG households under PMAY(U)
Coverage All Statutory Towns as per Census 2011 and towns notified subsequently
  • Husband + Wife + Unmarried Children (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)
  • In the case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the Scheme
Applicable fees
  • No processing charge to be taken from the beneficiary for eligible housing loan amount as per income criteria under the Scheme
  • Normal Processing fees to be charged for loan amount beyond the eligible loan amount
Declaration required from Beneficiary
  • A beneficiary family or he / she does not own a pucca (an all weather dwelling unit) house in his / her name in any part of India
  • Self - certification / affidavit is required as a proof of Income

Details on the Pradhan Mantri Awas Yojna (PMAY) – Credit Linked Subsidy Scheme (CLSS)

Particulars EWS LIG MIG I MIG II
Scheme Duration
01.01.17 to 31.03.21 01.01.17 to 31.03.21 01.01.17 to 31.03.21 01.01.17 to 31.03.21
Household Income (₹ p.a)
For EWS Upto 3 Lakhs For LIG 3 lakhs to 6 Lakhs 6 lakhs to 12 lakhs 12 lakhs to 18 lakhs
Interest Subsidy (% p.a.) 6.50% 6.50% 4.00% 3.00%
Maximum loan tenure Years 20 Yrs 20 Yrs 20 Yrs 20 Yrs
Dwelling Unit Carpet Area Upto 30# Sq.m 60 sq.m.# 160 sq.m. 200 sq.m.
Eligible Housing Loan Amount for Interest Subsidy (₹) 6 lakhs 6 lakhs 9 lakhs 12 lakhs
Interest Subsidy (% p.a) 6.50% 6.50% 4.00% 3.00%
Maximum Interest Subsidy (₹)
2.67 lakh 2.67 lakh 2.35 lakh 2.30 lakh
Discount Rate for Net Present Value (NPV) calculation of interest subsidy(%)
9% 9%

Benefits of PMAY

The Subsidy once released will be directly credited to the borrower's account and adjusted against the principal loan amount of the borrower. Hence the outstanding principal of loan will get reduced, resulting in reduced Equated Monthly Installment (EMI).


How to apply for Pradhan Mantri Awas Yojana?

Home Loans under Pradhan Mantri Awas Yojana can be applied at any ABHFL branch.

What is the process for claiming Subsidy under PMAY?

Once the loan is disbursed, ABHFL sends the required details to nodal agency for validation of data and other checks. After necessary due diligence nodal agency approves the subsidy to eligible borrowers.

Is there any limit on cost of the property or loan amount?

No, there is no limit on loan amount or cost of property but the subsidy benefit will be limited to the loan amount defined against each category. Additional amount will be at non- subsidized rate of interest.

Can a customer get a loan term beyond 20 Years?

Yes, beneficiary can avail a longer term loan beyond 20 years but subsidy will be limited to a maximum tenure of 20 years. ​​​​

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