If brother and sister purchase a property jointly, will they be able to avail PMAY subsidy? (Pradhan Mantri Awas yojana subsidy)

Yes, absolutely brother and sister can avail Pradhan Mantri Awas yojana subsidy. But under PMAY for EWS/ LIG one adult female is mandatory to avail this subsidy, while in case of MIG flats, the ownership with a female member is advisable. Both siblings should be adults, otherwise parental supervision is required.

Pradhan Mantri Awas Yojana subsidy is a scheme launched by the government of India and the aim of the plan is to provide housing for all till 2022. To achieve this target the government has launched housing schemes at a low rate of interest as per the income of the family. This plan also promotes women empowerment, as under PMAY housing subsidy scheme it is required to have a women co owner as the borrower.

• PMAY is available for economically weaker sections of the society.

• Population who comes under low income group can avail PMAY subsidy

• People who comes under medium income group 1

• PMAY is available for medium income group 2

Hi there,

The Government is trying to provide houses to everyone in India to eradicate poverty. There are so many schemes introduced such as MHADA, CIDCO, and PMAY. The PMAY scheme influences buyers to purchase houses at a lower interest rate of 2%. Now, I have read what has been stated by Ms Vashali about the eligibility criteria for the PMAY scheme. And I can assure you that what she has written is 100% correct and on point. Now that you know that you and your sister can opt for a joint property under PMAY let me share the guidelines for home loan subsidy under PMAY scheme.

• Candidates who belong to EWS, LIG, and MIG groups can apply for Pmay schemes. 

• While obtaining the loan the applicants are requested to bring documents to get a home loan subsidy.

Before wrapping up I would like to mention that the last date to apply for the PMAY scheme is 31 March 2022 (urban ). But the Pradhan Mantri Awas Yojana (Gramin) scheme has been extended up to 2024.

Now, I hope I have cleared the doubt that joint home loan with brother is eligible for PMAY scheme. As per PMAY guidelines you can avail loan jointly by adding a female member of the family as a joint owner.

This was all about home loan subsidy. I hope you find this helpful.

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