Pradhan Mantri Awas Yojana is Housing for All Scheme which was launched by the Government of India in the year 2015 with the aim of providing affordable housing to the citizens of India. So far in the PMAY (Urban) section, 113.06 lakh houses have been sanctioned and Rs. 111748 Cr. have been released as central assistance on this project. To avail benefits under this scheme there are some eligibility conditions which need to be fulfilled by the applicants. I am going to share with you who is eligible for PM Awas Yojana and who can apply for PM Awas Yojana in this answer. Read on to get complete details.
Who are eligible for PM Awas Yojana?To apply for Pradhan Mantri Awas Yojana, there are a few criterias defined by the government of India for the citizens. Here are the details listed for your convenience:
PMAY applicant or his/ her family members should not own a pucca house anywhere in the country.
Those with a family income of Rs. 3 lakh to Rs. 18 lakh can apply for the PMAY scheme.
The scheme is only applicable for new houses, you cannot avail the benefits on an already built property.
Applicants of PMAY should not be registered under any other housing scheme by state or central government
PMAY scheme is applicable in 4 income groups - EWS (economically weaker sections), LIG (Low income group), MIG 1, (Middle income group 1), and MIG 2 (Middle income group 2).
I hope so far you have gathered the idea of who is eligible for PM Awas Yojana. Now let us have a look at the income bands, subsidy details, loan tenures, etc. for all the income groups.
For EWS| Particulars | Details |
Annual income of the household |
Up to Rs. 3 lakhs |
Subsidy on home loan interest rate |
6.5% p.a |
Subsidy on loan amount for interest eligibility |
Rs. 6 lakhs |
Maximum repayment tenure for loan |
20 years |
Maximum subsidized interest amount |
Rs. 2.67 lakhs |
Maximum carpet area allowed |
30 sq meters |
| Particulars | Details |
Annual income of the household |
Rs. 3 lakhs - Rs. 6 lakhs |
Subsidy on home loan interest rate |
6.5% p.a |
Subsidy on loan amount for interest eligibility |
Rs. 6 lakhs |
Maximum repayment tenure for loan |
20 years |
Maximum subsidized interest amount |
Rs. 2.67 lakhs |
Maximum carpet area allowed |
60 sq meters |
| Particulars | Details |
Annual income of the household |
Rs. 6 lakhs to Rs. 12 lakhs |
Subsidy on home loan interest rate |
4% p.a |
Subsidy on loan amount for interest eligibility |
Rs. 9 lakhs |
Maximum repayment tenure for loan |
20 years |
Maximum subsidized interest amount |
Rs. 2.35 lakhs |
Maximum carpet area allowed |
160 sq meters |
| Particulars | Details |
Annual income of the household |
Rs. 12 lakhs to Rs. 18 lakhs |
Subsidy on home loan interest rate |
3% p.a |
Subsidy on loan amount for interest eligibility |
Rs. 12 lakhs |
Maximum repayment tenure for loan |
20 years |
Maximum subsidized interest amount |
Rs. 2.30 lakhs |
Maximum carpet area allowed |
200 sq meters |
These are the complete details you should know about who can apply for PM Awas Yojana. If you fall in any of these categories and fulfill all the eligibility conditions, you can apply for the scheme.
Read more: How to apply for Pradhan Mantri Awas Yojana How to apply for PMAY Gramin How to apply for PMAY subsidy Who is eligible for PMAY SubsidyYour Feedback Matters! How was this Answer?
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Authors Of The Question
Who is eligible for PM Awas Yojana?
Jaishankar
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2021-09-23T11:22:50+00:00 2021-09-23T13:55:41+00:00Comment
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