Pradhan Mantri Awas Yojana (PMAY), a scheme launched on 1 June 2015, intention is to provide affordable housing to the urban poor. It involves the agenda of constructing houses at an affordable price by the end of 2022. This scheme is a Credit Linked Subsidy Scheme (CLSS), where beneficiaries are eligible to get interest subsidy when they're availing a loan to purchase or construct a house.
Following are some of the vital details related to PMAY and loan details:
|
Scheme Type |
Economically Weaker Sections(EWS)/Lower Income Group(LIG) |
MIG I (Middle Income Group) |
MIG II (Middle Income Group) |
|
Eligibility Family Income (Rs.) |
EWS – Rs. 0 to Rs. 3, 00,000 |
Rs. 6,00,001 to |
Rs.12,00,001 to |
|
Carpet Area-Max (sq. m.) |
30 sqm** / 60 sqm** |
160 |
200 |
|
Subsidy calculated on a max loan of |
Rs. 6,00,000 |
Rs. 9,00,000 |
Rs. 12,00,000 |
|
Interest Subsidy (%) |
6.50 |
4.00 |
3.00 |
|
Max Subsidy (Rs.) |
2.67 Lakh |
2.35 Lakh |
2.30 Lakh |
|
Validity of scheme |
31 March 2022 |
31 March 2020 |
31 March 2020 |
|
Woman Ownership |
Mandatory* |
Non Mandatory |
Non Mandatory |
