The Pradhan Mantri Awas Yojana, or PMAY, is a housing subsidy scheme that aims to provide suitable dwellings to eligible persons by 2022. Individuals can easily qualify and claim subsidized benefits due to the scheme's simple eligibility rules. Following that, the qualified applicants can purchase or construct the house of their choice.

Read on to find out what is the eligibility for the Pradhan Mantri Awas Yojna.

Who Can Apply Under Pradhan Mantri Awas Yojana?

The Ministry of Housing and Urban Poverty Alleviation has established a road map with clear criteria underlined to disburse funds to the successful applicants.

Pradhan Mantri Awas Yojana eligibility criteria for different groups of people are as follows:

  • Economically Weaker Section(EWS) - Applicants with yearly house income of Rs.3 lakh
  • Lower Income Group(LIG) - Applicants with yearly house income between Rs.3 - 6 lakh
  • Middle Income Group 1 (MIG 1) - Applicants with yearly house income below Rs.12 lakh
  • Middle Income Group 2 (MIG 2) - Applicants with annual house income between Rs. 12 - Rs. 18 lakh
  • Other Minority Groups - Applicants belonging to the SC/ST/OBC fall under this category.
  • Women - Women falling under the EWS or LIG can also apply under the scheme.

What is the Eligibility Criteria for Pradhan Mantri Awas Yojana?

In order to qualify for the scheme, candidates must meet the clearly stated guidelines.

  • Neither the applicant nor any family member should own a pucca house in their name anywhere in the country.
  • Any individual whose family's annual income is less than Rs. 18 lakh can enrol for the scheme. Before applying, you can also include your spouse's annual salary.
  • The benefits of the PMAY plan do not apply to houses that have previously been built.
  • The applicant or any member of his family has not received any housing assistance(subsidy) from any Central/State government institutions.
  • According to the 2011 census, all statutory towns notified afterwards are eligible or covered for assistance under the plan.
  • Senior citizens and people with disabilities are given priority on the ground floor (in multi-story buildings)
  • If the applicant is married, only one partner is eligible for the subsidy, regardless of whether the dwelling owner is joint or single.
  • The construction of the house for which the subsidy is granted must be completed within three years of your first home instalment's release date under the scheme.

Criteria

EWS

LIG

MIG 1

MIG 2

Household Annual Income

Up to Rs. 3Lakh

Up to Rs. 6 lakh

Up to Rs. 12 lakh

Between Rs. 12 -Rs. 18 lakh

Property Area

 

30 sq.m

60 sq.m

160sq.m

200sq.m

Max. Loan Amount

Up to Rs. 6 lakh

Up to Rs. 6lakh

Up to Rs. 9 lakh

Up to Rs. 12 lakh

Subsidy %

6.5%

6.5%

4%

3%

Subsidy Amount

Rs. 2.67 lakh

Rs. 2.67 lakh

Rs.2.35 lakh

Rs. 2.30 lakh

NPV

9%

9%

9%

9%

Max. Loan Duration

20 years

20 years

20 years

20 years

Before applying for loan under the PMAY scheme, we recommend that you check your eligibility under the scheme with our PMAY subsidy calculator. A further PMAY eligibility requirement for EWS and LIG candidates is that the dwelling received through central assistance be in the name of the female head or in joint ownership. Only when the female head is unavailable may the residence be owned by a male. If you match the eligibility requirements for the PMAY scheme, you can apply through any bank of your choice.

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