The following criterias are to be considered while availing home loans under the Pradhan Mantri Awas Yojana :
PMAY (Urban) CLSS is available for dwelling units in All Statutory Towns as per Census 2011 and towns are notified subsequently, including Notified Planning Area under jurisdiction of Urban Dev. Authority or similar Statutory bodies
The Scheme for EWS/LIG is effective from 17.06.2015 and MIG is from 01.01.2017.
Subsidy is for house purchase and house construction loans. In EWS /LIG category, the home loans availed for Improvement or extension also are eligible.
A beneficiary family will comprise of husband, wife and unmarried dependent children.
The Beneficiary Household should not own any house (apart from the house in loan) in any part of India at the time of loan sanction and disbursal.
In EWS/ LIG category, female ownership is must in purchase cases (not required if construction / extension / improvement on pre-owned property). However, an unmarried independent person (female /male earning person) shall be treated as a separate household and can claim subsidy under PMAY (from 01-01-2017).
The beneficiary family/household should not have availed any other Central/State Government subsidy or benefit for housing under PMAY
Please continue reading to know more about the Pradhan Mantri Awas Yojana eligibility criteria, basis the economic groups:
Income Range:
| Scheme | Economic Group | Max. household income |
|---|---|---|
| EWS /LIG | MIG | Rs. 3 Lakhs |
| LIG | Rs. 6 Lakhs | |
| MIGf | MIG – I | Rs. 12 Lakhs |
| MIG – II | Rs. 18 Lakhs |
Eligibility:
| Scheme | Segment | Max. loan amount for Subsidy | Rate of Subsidy | Maximum Carpet Area | Max Tenure |
|---|---|---|---|---|---|
| EWS /LIG | EWS | Rs. 6 lakhs | 6.50%* | 30 Sq Mts / 323 Sq ft. | 20 Yrs |
| LIG | 60 Sq Mts / 645 Sq ft | ||||
| MIG | MIG - I | Rs. 9 lakhs | 4.00%* | 30 Sq Mts / 323 Sq ft. | |
| MIG - II | Rs.12 lakhs | 3.00%* | 200 Sq Mts /2152 Sq ft*** |