Pradhan Mantri Awas Yojana Eligibility

The Pradhan Mantri Awas Yojana is a flagship housing scheme by the Government of India aimed at providing affordable housing for all. To take advantage of this scheme, it's crucial to understand the eligibility criteria. Here's a detailed guide to help you determine if you qualify for PMAY.
The Pradhan Mantri Awas Yojana (PMAY) (URBAN)-Housing for All was a mission launched by the Indian government with the goal of increasing homeownership.

It aimed to achieve ‘Housing for All' by 2022. A subsidy scheme known as the Credit Linked Subsidy Scheme (CLSS) was launched under this mission to provide interest subsidies on loans obtained for the purchase/construction/extension/improvement of a house.
Given the projected growth of urbanization and the resulting housing demand in India, the PMAY scheme caters to the Economically Weaker Section (EWS)/Lower Income Group (LIG) and Middle Income Groups (MIG).

PMAY Eligibility Criteria

1. Income Criteria:

PMAY is categorized into two components: PMAY-Urban and PMAY-Gramin. The income criteria differ for each.
For PMAY-Urban, your household income plays a crucial role. Check the specific income brackets to see if you fall within the eligible range.
PMAY-Gramin considers the income of the entire family and categorizes beneficiaries based on their economic status.

2. Ownership of a Pucca House:

The applicant should not own a pucca (permanent) house anywhere in India to be eligible for PMAY. This is applicable to both urban and rural areas.

3. Preference to Women and Economically Weaker Sections (EWS):

PMAY gives preference to women as the head of the household and individuals belonging to the economically weaker sections (EWS).

4. Caste and Minority Criteria:

Special provisions are made for individuals belonging to Scheduled Castes (SC), Scheduled Tribes (ST), and Minority communities.

5. Urban vs. Rural Criteria:

Depending on whether you reside in an urban or rural area, the eligibility criteria may vary. Understand the specific requirements for the location you are applying from.

How to Check Eligibility and Apply

1. Online Eligibility Check:

Visit the official PMAY website to use the online eligibility checker tool. Input your details to determine your eligibility status.

2. Required Documents:

Gather necessary documents such as income proof, Aadhar card, and other relevant papers as specified by the PMAY guidelines.

3. Application Process:

Once eligible, follow the step-by-step guide on the official website to complete the PMAY application process.

Category	Family Income Annual	Max Carpet Area
EWS	Rs.3 lakh	60 square meters (645.83 square feet)
LIG	Rs.6 lakh	60 square meters (645.83 square feet)
MIG1	Rs.6 lakh to Rs.12 lakh	160 square meters (1722.33 square feet)
MIG2	Rs.12 lakh to Rs.18 lakh	200 square meters (2152.78 square feet)

Economically Weaker Section (EWS): The EWS category includes people with annual household incomes of less than Rs.3 lakh. An applicant claiming to be on EWS, on the other hand, must provide relevant proof to the government in order for the government to verify their claims.
Light Income Group (LIG): People in the LIG category typically have annual household incomes ranging from Rs.3 lakh to Rs.6 lakh. Again, in order to be considered, they must provide sufficient proof of their financial situation.
Medium Income Group (MIG1): Those with an annual household income of less than Rs.12 lakh are classified as MIG1. These individuals are eligible for loans of up to Rs.9 lakh for the construction of a home.
Individuals earning an annual household income of Rs.12 to Rs.18 lakh will be classified as MIG2 under the PMAY scheme. These individuals are eligible for loans of up to Rs.12 lakh.
Minorities: People from minority groups such as SC/ST/OBC will be classified as minorities. These individuals must meet in order to provide relevant caste and income certificates in order to be considered for the PMAY scheme.
Women: If they apply under the PMAY scheme, women from the EWS/LIG categories will be considered.

Aside from that, an applicant must meet a basic requirement. If the beneficiary is a family, for example, it must include a husband, wife, and unmarried children. In addition, no one in the family should own a home in their name.

Pradhan Mantri Awas Yojana Loan Eligibility for MIG

Particulars	MIG 1	MIG 2
Household Income	Rs.12 lakh p.a.	Rs.18 lakh p.a.
Loan Tenure (Max)	20 years p.a.	20 years p.a.
Interest subsidy	4% p.a.	3% p.a.
The eligible amount of loan for interest subsidy (CLSS)	Rs.9 lakh	Rs.12 lakh
Interest subsidy (Max)	Rs.2.35 lakh	Rs.2.3 lakh
Discount for NPV (Net Present Value)	9%	9%
Dwelling unit max carpet area	90 sq. mt	110 sq. mt
Monthly EMI (8.65%) with interest subsidy	Rs.5,834	Rs.8,059
Monthly EMI (8.65%) without interest subsidy	Rs.7,894	Rs.10,528

Pradhan Mantri Awas Yojana Loan Eligibility for LIG/EWS

Amount of loan	Rs.3 lakh	Rs.6 lakh	Rs.10 lakh
Subsidy Amount	Rs.3 lakh	Rs.6 lakh	Rs.6 lakh
Balance loan	Rs.1,66,360	Rs.3,32,720	Rs.7,32,720
Interest subsidy	Rs.1,33,640	Rs.2,67,280	Rs.2,67,280
Initial EMI	Rs.2,895	Rs.5,790	Rs.9,650
Reduced EMI after subsidy credit	Rs.1,605	Rs.3,211	Rs.7,071
Savings on a monthly basis	Rs.1,290	Rs.2,579	Rs.2,579
Savings on an annual basis	Rs.15,480	Rs.30,948	Rs.30,948

What is a Credit-Linked Subsidy Scheme (CLSS)?

The Credit Linked Subsidy Scheme (CLSS) is a benefit provided under the PMAY Scheme that allows the Economically Weaker Section (EWS), Low Income Group (LIG), and Medium Income Group (MIG) to obtain home loans with lower EMIs thanks to an interest subsidy. Under the Pmay subsidy eligibility, the beneficiary will receive an upfront interest subsidy on the principal amount, resulting in a lower effective home loan and EMI.

The Credit Linked Subsidy Scheme (CLSS) under PMAY makes home loans more affordable by providing a subsidy on the interest component, which reduces the customer's outflow on the home loan. The amount of the subsidy under the scheme is largely determined by the customer's income category and the size of the property unit being financed.

Conclusion

Understanding the Pradhan Mantri Awas Yojana eligibility criteria is the first step towards realizing your dream of owning an affordable home. By meeting the requirements and following the application process diligently, you can avail the benefits of this government scheme. For personalized assistance and to stay updated on any changes in eligibility criteria, refer to the official PMAY website or consult with authorized housing agencies.

PMAY Eligibility Criteria - Related FAQs

1. What Exactly Is The Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme (CLSS)?

The Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme (PMAY-CLSS) was launched by our Honourable Prime Minister Shri Narendra Modi for customers from the Economically Weaker Sections (EWS), Low Income Groups (LIG), and Middle Income Groups (MIG) (MIG-I and MIG-II).
Beneficiaries of this scheme would be eligible for a subsidy on the interest on housing loans taken out for the purchase, construction, extension, or improvement of a home.

2. Who Is Eligible To Apply For The Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme (PMAY-CLSS)?

To be eligible for the Credit Linked Subsidy Scheme (CLSS) under PMAY, the beneficiary's family must meet the following criteria:

A family consisting of the husband, wife, and unmarried children should be the beneficiary.

The beneficiary can also be an unmarried individual who works in the family.

The beneficiary must not own a pucca house in India, either in his or her own name or in the name of any member of his or her family.

The beneficiary must meet the criteria for the various categories of the scheme, which are based on family income levels.
The beneficiary should not have received central assistance under the mission 'Housing for All by 2022.'
For EWS and LIG beneficiaries, ownership of the property under consideration by a woman is required in all cases, except where the land was already owned by the customer prior to June 17, 2015, and the loan is only used for self-construction of a house on the self-owned land.
The property must have basic trunk infrastructure such as water and electricity supply, as well as drainage or sanitation facilities.

3. How Will I Benefit From The Interest Subsidy Under PMAY's Credit Linked Subsidy Scheme (CLSS)?

The National Housing Bank subsidy will be claimed by the Bank for eligible borrowers (NHB). Following that, the NHB will conduct due diligence to exclude claims where the customer has submitted multiple requests.
The amount of the subsidy would be paid to us on behalf of all eligible borrowers. The bank will credit the interest subsidy to the eligible borrower's loan account as soon as they receive it. The subsidy will be calculated based on the Net Present Value (NPV) at a 9% discount rate.