The Pradhan Mantri Awas Yojana came into effect on 25th June 2015, in an attempt to provide affordable housing to the urban and rural poor. The scheme offers subsidised home loans to the economically weaker sections, lower-income group and middle-income group individual.

Eligibility Criteria

To qualify for a home loan subsidy under Pradhan Mantri Awas Yojana scheme, you will have to meet certain eligibility criteria. These are-

  1. Middle-income group: It is classified into two categories - MIG-I and MIG-II.
  • MIG-I: Applicants having an annual income between Rs. 6 Lakh and Rs. 12 Lakh can enjoy a subsidy of 4%.
  • MIG-II: Applicants with yearly income ranging anywhere between Rs. 12 Lakh and Rs. 18 Lakh can avail such loans with a subsidy of 3%.
  1. Lower-income group: Borrowers can avail a subsidy of 6.5% if their annual income ranges between Rs. 3 Lakh and Rs. 6 Lakh.
  2. Economically weaker section: Applicants with an annual income below Rs. 3 Lakh can avail home loan with a subsidy of 6.5%.
Floor Usage Limit

  1. Economically weaker sections: Applicants will gain access to properties with a net carpet area of up to 30-square meter.
  2. Lower-income group: Applicants will be eligible for properties with a net carpet area of up to a 60-square meter.
  3. Middle-income group: Individuals under MIG-I category will be eligible for properties with a net carpet area of up to 120-square meter. Under MIG-II applicants can enjoy net carpet area up to 150-square meter.
Besides, the applications for a home loan subsidy under the Pradhan Mantri Awas Yojana scheme can be made online. To apply, visit the PMAY official portal and register with your Aadhaar number and fill an application form. After submitting the forms, do make sure to download a digital copy of the same for future reference.

If you have already applied for the Pradhan Mantri Yojana 2019 scheme, you can check your status in PMAY Beneficiary List online.