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Pradhan Mantri Awas Yojana Eligibility

PMAY Eligibility & Subsidy 2021

Last Updated 25th Jul 2021

Income Group Annual Income Maximum Eligible Loan Amount
EWS - Economically Weaker Section Upto ₹ 3 Lakh ₹ 6 Lakh
LIG - Light Income Group ₹ 3 to 6 Lakh ₹ 6 Lakh
MIG1 - Medium Income Group ₹ 6 to 12 Lakh ₹ 9 Lakh
MIG2 - Medium Income Group ₹ 12 to 18 Lakh ₹ 12 Lakh
PMAY Subsidy Calculator
Best Offers on Home Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
SBI6.70%₹ 645Check Eligibility
HDFC6.75%₹ 649Check Eligibility
ICICI Bank6.75%₹ 649Check Eligibility

* Starting From

How to Check PMAY Scheme Eligibility Criteria?

Applicants will be eligible under this mission if they meet the following criteria:

  • The applicant or any other family member must not own a pucca house in any part of the country.
  • Any household with an annual income of up to ₹ 18 lakh can apply for this scheme. The annual income of a spouse could also be included while applying.
  • The beneficiary cannot avail of PMAY benefits on the already built house.
  • The beneficiary family should not have availed any central assistance under any housing scheme from the Government of India/ State Government.
  • As per Census 2011, all statutory towns and towns notified subsequently would be eligible for coverage under the mission.
  • For senior citizens and differently-abled, ground floor housing is given preference.
  • If the applicant is married, both together in joint ownership or either of the spouses can get a single subsidy.
  • The construction/extension for which the loan is availed must be completed within 36 months from the date of the disbursement of the 1st installment of the loan amount.

Pradhan Mantri Awas Yojana Eligibility 2021-22

Individuals who fulfil the following criteria are eligible to get the benefit of PMAY subsidy on home loan.

Parameters Middle Income Group 1 Middle income Group-2 Lower Income Group Economically Weaker section
Household annual income ₹ 6 Lakh to ₹ 12 lakh ₹ 12 lakh to ₹ 18 lakh ₹ 3 lakh to ₹ 6 lakh Up to ₹ 3 lakh
Subsidy on home loan interest rate 4% p.a. 3% p.a. 6.5% p.a. 6.5% p.a.
Eligible Loan amount for Interest Subsidy (₹) ₹ 9 lakh ₹ 12 lakh ₹ 6 lakh ₹ 6 lakh
Maximum repayment tenure of home loan 20 years 20 years 20 years 20 years
Maximum Amount of subsidised interest ₹ 2.35 lakh ₹ 2.30 lakh ₹ 2.67 lakh ₹ 2.67 lakh
Maximum Dwelling Unit’s carpet area (in sq. m.) 160 200 60 30

Below-mentioned are some scenarios to help you determine the eligibility of the PMAY scheme.

Scenario 1

Mr A earns an annual Income of Rs 10 lacs (MIG- 1) and wants to purchase a house in his name instead of having joint ownership. Is he eligible for a subsidy?

Ans- Yes, because as per the CLSS scheme's criteria for the MIG scheme, female ownership is not mandatory.

Scenario 2

Ms A had a house in her own name before marriage. After marriage, her husband purchases a house in her name and applies for a home loan subsidy benefit. Is he eligible for CLSS?

Ans- No, as Ms A already has a house in her name. Hence, he would not be eligible for subsidy on the purchase of the second house.

Scenario 3

A young boy of 23 years who earns Rs. 50 Lakhs purchases a house. Is he eligible for a Credit Subsidy?

Ans- No, as per the eligibility criteria of PMAY CLSS, individuals with annual income upto Rs. 18 Lakhs are eligible for the scheme.

PMAY Subsidy Offers and Benefits

PMAY subsidy benefits the following income group individuals.

Scheme Beneficiary
PMAY Urban scheme Economically Weaker Section, Low Income Group and Middle Income Group
CLSS of PMAY Urban Lower income group and Middle-income group
PMAY Gramin scheme Economically Weaker Section, Low Income Group, Below Poverty Line

Pradhan Mantri Awas Yojana Subsidy Criteria

The subsidy criteria of each group are set up by the PMAY committee below:

  • Economically Weaker Section (EWS) : Applicants whose annual house income is upto ₹ 3 lakh comes under the EWS category. However, applicants need to provide relevant proof to the government to claim the benefits.
  • Light Income Group (LIG) : Applicants that have an annual household income ranging between ₹ 3 lakh to 6 lakh fall under this category. Applicants are required to provide sufficient proof to claim the benefits.
  • Medium Income Group (MIG1) : Applicants who earn an annual income below ₹ 12 lakh fall under the MIG1 category. Applicants can avail loans of up to ₹ 9 lakh for the construction of a residence.
  • Medium Income Group (MIG2) : If the annual income is between ₹ 12 to ₹ 18 lakh, applicants will fall under the MIG2 category. These people can avail loans of up to ₹ 12 lakh. Apart from this, an applicant is required to meet a basic requirement. For instance, if the beneficiary is a family, it must comprise of a husband, wife, and unmarried children. Also, no family members should have a house in their name.

PMAY Subsidy Status

Individuals can track PMAY status by using the two methods mentioned below:

Track PMAY Application Status by Name, Father’s Name & Mobile Number

  • Visit the official PMAY website https://pmaymis.gov.in/Track_Application_Status.aspx.
  • Enter the details like state Name, district name, his name, father’s name and mobile number.
  • After submitting the information successfully, the status of PMAY application will be conveyed.

Track PMAY Application Status using Assessment ID

  • Visit the official PMAY website https://pmaymis.gov.in/Track_Application_Status.aspx.
  • Enter the Assessment ID and Mobile number.
  • Individuals will now be directed to a page that will display the status of his assessment.

PMAY EMI Calculator

PMAY EMI or PMAY subsidy calculator, is a reliable tool to plan your home loan under the PMAY subsidy. Before applying for the loan under the PMAY scheme,it’s better to calculate your EMIs beforehand so that you can plan your finances accordingly. Multiple online aggregators help you calculate monthly EMIs and home loan subsidy in just seconds. You need to input the following details: Annual Family Income, Tenure, Interest rate, and Loan Amount. Once you submit the details, you will get the Subsidy amount, Subsidy category, effective interest rate, and EMIs.

Objectives of PMAY Subsidy Calculator

The objectives of PMAY Subsidy calculator are:

  • Saves you from tedious calculations : A subsidy calculator eliminates the tedious manual calculations and additional stress involved.
  • Saves time : With the help of the PMAY Subsidy calculator, you can calculate subsidy and category in seconds, which in turn, saves your precious time. 
  • Help you plan your finances well : Calculating EMIs and subsidy gives you an idea as to how much money you need to set aside from your monthly income. In short, the PMAY calculator helps you to decide the amount which you can pay back without any financial stress.
  • Calculates effective interest rate : PMAY calculator helps to calculate the effective interest rate on loan under PMAY scheme and helps you to save your time. 

Similar Schemes Under Home Loans

FAQs

Who is eligible for PMAY?

Individuals who are eligible for PMAY scheme are:

  • Any household with an annual income between ₹ 3 lakh to 18 lakh can apply for this scheme.
  • The applicant or any other family member must not now own a pucca house in any part of the country.
  • The beneficiary cannot avail PMAY benefits on the already built house.
  • For senior citizens and differently-abled, ground floor housing is given preference.
  • If the applicant is married, together in joint ownership or either of the spouses can get a single subsidy.

Is PMAY applicable for a resale flat?

No, you cannot avail PMAY subsidy benefits for a resale flat as the scheme is applicable for the purchase or construction of new houses, extension or improvement of existing homes.

Who is not eligible for PMAY?

Individuals who already have a pucca house in the country or have availed benefit from a central/state government-run housing scheme earlier have an annual income more than ₹ 18 lakhs; are not eligible for PMAY Home Loan..

How can I check my PMAY subsidy status?

To check PMAY subsidy status, follow the steps as mentioned below:

Step 1 : Visit the official website - pmaymis.gov.in

Step 2 : Select ‘Citizen Assessment’ option.

Step 3 : Select the ‘Track Your Assessment’ status at the bottom of the menu.

Step 4 : Once you select the option, you will be redirected to another page which will give you two options — By Name, Father’s Name and ID Type or By Assessment ID.

Step 5 : Select one of the two options to track your application status.

Step 6 : Applicant needs to enter the state, city, district, father’s name, ID type, and then enter the corresponding ID number and registered mobile number.

Step 7 : The applicant can also enter the assessment ID and register mobile number to track the application status.

How is PMAY subsidy credited?

After you submit the application, the bank will claim the subsidy benefits from the National Housing Bank, provided you are eligible for PM Awas Yojana Scheme. Once confirmed, the subsidy amount will be given to the applicant’s bank. And then, the money will be transferred to the loan account.

How is PMAY subsidy calculated?

One of the best ways to calculate the PMAY subsidy is by using the subsidy calculator. You need to input the following details: Annual Family Income, Tenure, Interest rate, and Loan Amount. Once you submit the details, you will get the PMAY subsidy amount.


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