Star Housing Finance Limited is a Primary Lending Institution (PLI) under the PMAY program established by MHUPA as a part of Government of India’s mission “Housing for All”. Under the CLSS (Credit Linked Subsidy Scheme), the first-time home owners having family income of up to Rs.18 lacs can avail subsidy of up to Rs.2.67 lakhs on their home loans availed for purchase/self-construction of housing units in PMAY notified towns.

Salient Features
Customer Type Annual household Income Max Loan Amt for subsidy Rate of subsidy Carpet Area Max Subsidy
EWS / LIG Up to Rs.6 lakhs 6 lakhs 6.5% 60 sq.m. Rs.2.67 lakhs
MIG I Rs.6.01-12 lakhs 9 lakhs 4.0% 160 sq.m. Rs.2.35 lakhs
MIG II Rs.12.01-18 lakhs 12 lakhs 3.0% 200 sq.m. Rs.2.30 lakhs
  • Loan availed by EWS / LIG household must be approved not before 17-06-2015 and Loan availed by MIG I / MIG II household must be approved not before 01-01-2017
  • Woman home ownership is mandatory for EWS / LIG households in order to avail subsidy
  • Aadhar card number is mandatory for subsidy application under MIG category
  • EWS / LIG can also avail subsidy for loans taken towards improvement of their homes (woman home ownership not compulsory)
  • Discount rate of 9% and maximum tenure of 20 years would be applied for calculation of subsidy amount, also known as Net Present Value (NPV)
  • No cap on loan amount. Loan amount above the maximum limit will not be considered in subsidy calculation and will be considered as non-subsidized
  • CLSS scheme for EWS / LIG customers is made available till March 31, 2022, whereas for MIG I / II households is made available till March 31, 2020