PMAY - Pradhan Mantri Awas Yojana (Urban)
Pradhan Mantri Awas Yojana is a programme by Government of India to ensure “Housing for all by 2022’’. Under this, there is a Credit Linked Subsidy Scheme on home loans for properties in urban market belonging to Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group 1 & 2 (MIG). It can be availed for new or resale purchase of home, construction, or for extension or improvement of rooms, kitchen, toilet etc.
Who is eligible for this scheme?Eligibility is dependent on the income group.
| Income Group | Annual Household Income |
| EWS | Up to Rs. 3 Lacs |
| LIG | Rs. 3.01 to Rs. 6 Lacs |
| MIG 1 | Rs. 6.01 to Rs. 12 Lacs |
| MIG 2 | Rs. 12.01 to Rs. 18 Lacs |
The subsidy offered is dependent upon the loan amount and the income group you fall in. Applicants with income up to Rs. 6 Lacs, can avail a maximum subsidy of Rs.2.67 Lacs. Applicants with income up to Rs.12 Lacs, can avail a maximum subsidy of Rs.2.35 Lacs. Applicants with income up to Rs.18 Lacs, can avail a maximum subsidy of Rs.2.30 Lacs
| Income Group | Subsidy on maximum Loan Amount | Interest Subsidy (%) | Maximum Subsidy Tenure (In years) | Max. Subsidy amount |
| Up to Rs. 3 Lacs | Rs. 6 Lacs | 6.5% | 20 | Rs. 2.67 lacs |
| Above Rs. 3 Lacs up to Rs. 6 Lacs | Rs. 6 Lacs | 6.5% | 20 | Rs. 2.67 lacs |
| Above Rs. 6 Lacs up to Rs. 12 Lacs | Rs. 9 Lacs | 4% | 20 | Rs. 2.35 lacs |
| Above Rs. 12 Lacs up to Rs. 18 Lacs | Rs. 12 Lacs | 3% | 20 | Rs. 2.30 lacs |
- KYC Documents & Photograph
- Aadhar Card is mandatory
- Salary slip or Certificate & updated bank statement for salaried applicants
- Income Tax Returns of last two years and bank statement for self employed applicants
- Self-certificate/affidavit as proof of income
- Customer declaration undertaking
- Additional Application form
Quality of work is also good. Service is excellent. After sale service is very good, staff is very prompt and cooperative
- Ravindra Sawant
