PMAY(Pradhan Mantri Awas Yojna )

The Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) – ‘Housing for All’ is a home loan scheme launched by our honourable Prime Minister Shri Narendra Modi. The scheme envisions ‘Housing for All’ by the year 2022. It benefits people belonging to the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I), and Middle Income Group-II (MIG-II) of society. Beneficiaries availing this scheme are eligible to avail interest subsidy on the purchase or construction of a house or the enhancement of dwelling unit.

Eligibility

People belonging to the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I) and Middle Income Group-II (MIG-II) are eligible for this scheme Age of the applicant must be 70 years or less

Income range of the applicant must be below Rs. 3 lakhs per annum for economically weaker sections and between Rs. 3 – 6 lakhs per annum for lower income groups Women who are citizens of India are eligible

Beneficiary
  • They must meet the income requirement of the scheme.
  • The beneficiary family should not already own a ‘pucca’ house anywhere in India under their own name.
  • The beneficiary family should not have already availed any other central assistance under any housing scheme from the Government of India or benefit under any scheme in Pradhan Mantri Awas Yojana (PMAY).
  • The beneficiary family shall comprise of husband, wife and unmarried children. However, under the MIG category, an adult earning member irrespective of his/her marital status can also be treated as a separate household.
  • For married couples, either spouse or both of them together in joint ownership can be eligible for a single subsidy.
  • Exception: An adult earning member (irrespective of marital status) can be treated as a separate household — which means a bachelor availing a loan can also avail subsidy if he/she is buying property in his/her name.
Coverage

All Statutory Towns as per Census 2011 and towns notified subsequently will be eligible for coverage under the Scheme.