Eligibility Criteria for PMAY and to Avail Its Subsidy


The Pradhan Mantri Awas Yojana or PMAY is a Government scheme that aims to make affordable housing accessible to the eligible beneficiaries across both rural and urban India.
This scheme, launched in 2015, has set up a plan to build 20 million houses for the urban poor within March 2022. During this period, individuals complying with the Pradhan Mantri Awas Yojana eligibility criteria can also avail a subsidy on home loans from various financial institutions.
What Are the Benefits of PMAY?

The PM Awas Yojana aims to provide following benefits to eligible individuals before India completes 75 years of its independence:
  • Living quarters for poorer sections of rural and urban India.
  • Financial support to individuals seeking funds to purchase or construct a house through Credit  Linked Subsidy Scheme (CLSS).
  • Special benefits to women and minorities.
  • Eco-friendly and sustainable housing options.
  •  Benefits to senior citizens and differently-abled individuals by providing them the ground floor is constructed houses.
Who Can Avail the Benefits of PMAY?

To avail the benefits of this scheme, individuals should comply with specific PMAY eligibility criteria. These are:

• Economically Weaker Section or EWS

Individuals with an annual household income of less than Rs. 3 Lakh belongs to the EWS category.

• Low-Income Group or LIG 

Individuals with an annual household income between Rs. 3 Lakh and Rs. 6 Lakh belong to the LIG category and can avail the benefits of the Pradhan Mantri Awas Yojana for a home loan.
• Medium Income Group I or MIG I

Individuals with an annual household income between Rs. 6 Lakh and Rs. 12 Lakh belong to the MIG I category. They can avail a loan of up to Rs. 9 Lakh.

• Medium Income Group II or MIG II

Individuals with an annual household income between Rs. 12 Lakh and Rs. 18 Lakh belongs to the MIG II category. They are eligible to avail a loan amount of up to Rs. 12 Lakh.

• Women and Minorities

Women can apply for the benefits of PMAY if they belong to the EWS and LIG categories. Individuals belonging to minority groups like SC, ST, OBC, etc. can also avail PMAY benefits.

These are the income-based PMAY eligibility criteria that individuals should comply with to avail the benefits under the scheme. Some of the other general criteria include:
  • Applicants looking to avail the facilities of this scheme should not have a brick and mortar house in their name or any household member’s name anywhere in India. 
  • The applicant must not have availed the benefits of any other previous government housing schemes.
  • The property to be purchased should be mandatorily co-owned by a female member of the family.
  • The location of the property to be purchased should be under statutory towns according to the 2011 census.
To know if you are eligible to avail the benefits of PMAY, you can take the aid of online PMAY eligibility calculator from various financial institutions. 

What is the Subsidy Individuals Can Avail Under PMAY?

PMAY gives individuals the benefit of Credit Linked Subsidy Scheme or CLSS, under which they avail home loan at a subsidized rate of interest. 

To know how the Credit Linked Subsidy Scheme (CLSS) works, refer below, 

  • Beneficiaries belonging to EWS and LIG categories can avail a 6.5% subsidy on the home loan interest rate.
  • Beneficiaries belonging to MIG I and MIG II categories can avail a 4% and 3% subsidy interest rate on home loans respectively. 
The home loans under CLSS of PMAY are available with a maximum tenure of 20 years. Several financial institutions offer such loans with additional benefits and attractive features.
Individuals complying with the eligibility criteria can avail all the benefits of this housing for all schemes. Additionally, you must ensure that you have all the relevant documents necessary to apply for the benefits of the scheme to avoid any hassles in the process.