The Chandigarh Administration has announced the implementation of an interest subsidy scheme under the Pradhan Mantri Awas Yojana-Urban 2.0. Under this scheme, EWS (Economically Weaker Section), LIG (Low Income Group), and MIG (Middle Income Group) families living in urban areas and who do not own a permanent home anywhere in the country will be eligible to purchase or construct a home under this scheme.
👉 Benefits of this scheme
EWS category – annual income up to 3 lakhs
LIG category – annual income up to 6 lakhs
MIG category – annual income up to 9 lakhs
👉 Key points of the scheme
Interest subsidy up to a maximum of ₹1.80 lakh (NPV ₹1.50 lakh) will be available, provided the loan tenure is more than 5 years.
Families with incomes up to ₹9 lakh, property values up to ₹35 lakh, and loan amounts up to ₹25 lakh will receive a 4% interest subsidy on the first ₹8 lakh.
This subsidy will be available only if the loan term is up to 12 years.
The maximum carpet area of a home under this scheme is 120 square meters.
This scheme will help thousands of families in Chandigarh purchase and build homes at affordable rates.
