What is PMAY?

The Pradhan Mantri Awas Yojana, launched in July 2015, is housing-subsidy scheme that provides affordable housing to the economically disparaged communities in India – Lower-Income Groups, Economically-Weaker Sections, Middle-Income Groups and slum dwellers. The PMAY scheme offers a housing loan at an affordable interest rate of 6.50% p.a. to all eligible beneficiaries.

The scheme works throughout the rural and urban segments and provides an affordable housing facility for first-time homebuyers with its CLS (Credit Linked Scheme). PMAY lays a simple and convenient eligibility criterion for the beneficiaries. To avail of the facilities and benefits under this scheme, the applicant must fulfill the minimum eligibility criteria to secure the slot as a beneficiary.

Who are the beneficiaries?

The PMAY (Pradhan Mantri Awas Yojana) scheme is solely designed for the minority communities and for the economically weaker section of society all over the country. It aims to provide affordable housing to all its beneficiaries. To be an eligible beneficiary an applicant must fall under these categories under PMAY scheme.

  • Lower-Income Group (LIG): Families with an annual household income of Rs.3 Lakh or less than that of Rs.6 Lakh fall under LIG (Lower Income Group) category. However, they will have to provide sufficient proof of their income standards.
  • Economically Weaker Section (EWS): Applicants with a yearly household income of less than Rs.3 Lakh falls under this category. Again, they will have to provide relevant proof ascertaining their claim.
  • Middle-Income Group (MIG – I): People earning a yearly family income of Rs.6 Lakh to Rs12 Lakh can claim this category. They can avail a home loan of up to Rs.9 Lakh to construct their house.
  • Middle Income Group (MIG –II): People with a yearly household income of Rs.12 Lakh to Rs,18 Lakh falls under the category of MIG-II of this scheme. Under this category, applicants can avail up to Rs.12 Lakh of housing loan.
  • Women: Women applicants belonging form the LIG and EWS category can avail the benefits under the PMAY schemes.
  • Minorities: Individuals belonging from the minority communities of the society like- SC, ST, OBC, etc., can avail the benefits under this scheme.

What are the eligibility criteria for PMAY scheme?

The beneficiaries falling under the above-mentioned categories must fulfill the below mentioned eligibility criteria laid out by the MoHUA (Ministry of Housing and Urban Affairs) to avail the benefits under the PM Awas Yojana. The eligibility criteria are listed below for all the beneficiaries:

  • One of the major eligibility criteria for The Pradhan Mantri Awas Yojana is that neither the applicant nor any member from the applicant’s family can have a “pucca” house in any part of the country.
  • The applicant must belong to the categories of Economically Weaker Section (EWS) or Lower Income Group (LIG) and Middle-Income Group (I &II) or slum dwellers.
  • The applicant’s family should comprise of wife or husband and unmarried son or daughter.
  • Sections under Middle-Income Group who has a household income of Rs.6 Lakh to Rs.18 Lakh can apply for the PMAY scheme.
  • Beneficiaries under Economically Weaker Section (EWS) with a house hold income of Rs.3 Lakh or below can take the complete assistance of the PMAY scheme.
  • People from the Lower Income Group (LIG) and Middle-Income Group can only get the CLSS (Credit Linked Subsidy Scheme).
  •  If the applicant already owns a pucca house or a built house, he or she will not be able to apply for the PMAY scheme.
  • If any member from the applicant’s family has already taken a subsidized loan from the Central Housing Scheme, then he or she will not be eligible for the PMAY scheme.
  • If married, either the applicant or the spouse can take the subsidy interest, in case of a joined ownership.
  • The construction of the house must be completed with the 36 months from the date of the disbursement of the first installment. 
CategoryAnnual Household incomeMax. Carpet areaLoan tenureInterest subsidy
LIG Rs.3 lakh or less60 square meters20 years6.5% p.a.
EWSRs.3 lakh to Rs.6 lakh60 square meters20 years6.5% p.a.
MIG IRs.6 lakh to Rs.12 lakh160 square meters20 years4% p.a.
MIG IIRs.12 lakh to Rs.18 lakh200 square meters20 years3% p.a.

The eligibility of an applicant can also be identified on the bases of the following criteria listed below:

     1.  PMAY Gramin Scheme: LIG, EWS, and people below poverty line.

     2. PMAY Urban scheme: EWS, LIG, MIG-I & II    

     3. PMAY CLSS: LIG and MIG.

How to check eligibility for PMAY scheme?

To check your eligibility for the PM Awas Yojana, follow the steps listed below:

Step 1: Ensure that none of your family members own a pucca house in any part of the country

Step 2: Calculate and confirm the annual income of your family. If it is below Rs.18 Lakh then you will be eligible for the PMAY scheme (if other criteria are met).

Step 3: The applicant must purchase or build a new house to avail the benefits under this scheme.

Step 4: The property purchased for the construction of your new house must be completed within 3 years from the date of disbursement of the loan amount.

Step 5: Check and ensure that the location of your property is in the identified area.

Step 6: Lastly, make sure none of your family members has avail any government-centric housing facility benefits.

Once checked and confirmed, decide which category suits your best interest and apply for the PMAY scheme.

How to track your PM Awas Yojana Application status?

People who satisfy the eligibility criteria for PMAY scheme can apply and check their status in the official website of PMAY. You can track your PM Awas Yojana application status through 2 ways:

  • Assessment ID – You can check your PMAY application status with your assessment ID. Proves the requested ID and registered phone number and check your application status.
  • Personal details- You can also check your PMAY application status with your personal details like – applicant’s name, address, phone number, etc. Once entered you will get the status of your application.

FAQs

  1. Am I eligible for PMAY scheme?

If you fall under the following categories, then you are eligible for the PMAY scheme:

  • Economically Weaker Section (EWS) with a household annual income of Rs.3 Lakh to Rs.6 Lakh.
  • Lower-Income Group (LIG) with a household annual income of Rs.3 Lakh or less.
  • Middle-Income Group (MIG I & II) with a household annual income of Rs6 to Rs.18 Lakh.
  • Applicant and members of the applicant’s family cannot have a ”pucca” house or owned permanent residence in any part of India.
  1. What is the repayment tenure of LIG for PMAY scheme?

PMAY scheme offers a repayment tenure of 20 years to the Lower-Income Group.

  1. Under what other categories does the beneficiaries are identified for the PMAY scheme?

The beneficiaries are also identified under these following categories:

  • PMAY Urban scheme: EWS, LIG, MIG-I & II    
  • PMAY Gramin Scheme: LIG, EWS, and people under BPL
  •  PMAY CLSS: LIG and MIG.
  1. What is the maximum carpet area offer under PMAY scheme?
    The government offers a maximum carpet area of 200 sq. Meters to be financed under the PMAY scheme.
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