Things To Know About The Requirements For Availing PMAY Subsidy


The Pradhan Mantri Awas Yojana scheme was launched in two segments – PMAY Urban (PMAY-U) and PMAY Rural (PMAY-R). It aims to provide a PMAY subsidy on home loan interest to economically weaker sections of society to buy a residential property easily.

Who are eligible for PM Awas Yojana subsidy?

To qualify for the Credit Linked Subsidy Scheme (CLSS) under PMAY, one must fall under the following categories

  • Economically weaker section (EWS)
  • Lower-income group (LIG)
  • Middle-income group I (MIG-I)
  • Middle-income group-II (MIG-II)
  • Women belonging to the EWS and LIG categories
  • Scheduled caste (SC), scheduled tribe (ST), and other backward classes (OBC)

Now let’s have a look at these eligibility criteria that you need to fulfil to avail of the PMAY scheme benefits

  • An applicant must not own any pucca house or property in their name or their parents’ name in any part of India.
  • Having an Aadhaar card is imperative to avail this scheme’s benefits.
  • He/she must not have availed any other housing scheme previously launched by the central or state government.
  • He/she must not have availed any perk under the PMAY subsidy from any other financial institution.
  • The property must be located under the list of approved towns and cities under this scheme.
  • A family considered under this scheme must comprise a wife, husband, and unmarried/dependant children. 


An adult, independent individual can be considered a different household, irrespective of their marital status, and is eligible for this subsidy separately.

  • The to-be-bought property’s carpet area must be

            – 322 square feet for the EWS category

            – 645 square feet for LIG category

            – 1722 square feet for the MIG-I category

            – 2152 square feet for the MIG-II category

  • To avail the PMAY subsidy, a female member of the household must be the primary applicant or a co-applicant. Exceptions can be made if there’s no female member in the family. 
  • The total annual income must be

             – Within Rs.3 lakh to be eligible for Economically Weaker Section (EWS) category

             – From Rs.3 to Rs.6 lakh for the Lower-Income Group (LIG) category

             – Within Rs.6 – Rs.12 lakh for the Middle-Income Group I (MIG-I) category

             – Within Rs.18 lakh for Middle-Income Group-II (MIG-II) category

These are the basic factors that one needs to satisfy to avail the PMAY subsidy scheme.

Funds To Buy Home:

So, if you don’t possess enough funds to buy a home, consider applying quickly to avail the benefits of Pradhan Mantri Awas Yojana.

The maximum subsidy available on a home loan is up to 2.67 lakh under this scheme. Here are a few more factors applicable for the eligible categories under PMAY Awas Yojana –

  • For EWS and LIG category, the maximum subsidy will be 6.5% on a loan amount not exceeding Rs.6 lakh.
  • This subsidy will be 4% on a loan amount not more than Rs.9 lakh for the MIG-I category.
  • For the MIG-II category, such subsidy rate will be 3% on an amount of up to Rs.12 lakh.

Suppose you don’t qualify for the PMAY scheme, you can also apply for a low-interest home loan independently from different housing finance companies.

To simplify and accelerate the loan application process, many leading financial institutions provide pre-approved offers. These offers are available on a wide range of financial products, including home loans and loans against properties. Check your pre-approved offers today by sharing some essential details such as your name and contact information.

Nevertheless, make sure to check in details about the PMAY eligibility criteria before proceeding with the application process.

Leave a Reply

Your email address will not be published.