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Details of PMAY

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
LIG – Rs. 3,00,001 to Rs. 6,00,000

Rs. 6,00,001 to
Rs.12,00,000

Rs.12,00,001 to
Rs.18,00,000

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

 

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