Nivara Nivas – Central Government initiated scheme contributing to the mission “Housing for All”

About the scheme
The government of India has initiated the Prime Minister Awas Yojana (PMAY) – Credit linked subsidy scheme to enable people of economically weaker section (EWS ) and lower income group (LIG) to own a pucca house with basic amenities.

Products under this Scheme

  • Construction Loan
  • Home Purchase
  • Home Extension / Home Improvement
  • Composite Loan


  • Subsidy amount up to 2.20 Lacs will be credited to the loan account
  • Minimal Documentation
Subsidy Benefits under this scheme ( For illustrative purpose only )
Loan Amount (before subsidy) 6,00,000 5,00,000 4,00,000 3,00,000
Subsidy Amount* 2,20,187 1,83,489 1,46,791 1,10,094
Loan Amount (after subsidy) 3,79,813 3,16,511 2,53,209 1,89,907
EMI (before subsidy) 10,984 9,153 7,323 5,492
Subsidy benefit in EMI (pm) 4,031 3,359 2,687 2,016
EMI (after subsidy) 6,953 5,794 4,635 3,477

*The credit linked subsidy will be available only for loan amount up to 6 lakhs, additional loans beyond 6 Lacs if any will be at nonsubsidized rate

Eligibility Conditions for Nivara Nivas Scheme

  • The applicant should belong to EWS / LIG ( House hold income should be less than 6 Lacs p.a)
  • The applicant l should not own a pucca house either in his/her name or in thename of any member of his/her family in any part of India
  • Houses constructed under this Scheme will be in the name of the female head of the households or in the joint name of the male head of the household and his wife.
  • The carpet area of house being constructed should be up to 60 square meters.
  • The property to be funded must be in Urban area

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