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Pradhan Mantri Awas Yojana Eligibility

Pradhan Mantri Awas Yojana Eligibility Criteria

The Pradhan Mantri Awas Yojana or PMAY is a subsidy-based housing scheme that operates to provide housing to all eligible beneficiaries by the year 2022. With simple Pradhan Mantri Awas Yojana eligibility requirements, individuals can conveniently qualify and apply for subsidy benefits and purchase or construct the home of their choice.

Check out the pertinent details related to the scheme and the essential PMAY eligibility criteria users must meet to qualify for associated benefits.

Pradhan Mantri Awas Yojana – About the scheme

PMAY is a central and state government-backed housing scheme that makes affordable house purchase convenient for first-time homebuyers with its four primary components. Operating through its Urban and Rural segments, the scheme reaches out to all locations in the country with its Credit Linked Subsidy Scheme for affordable house ownership.

Launched in 2015, the scheme lays down simple PMAY eligibility for the convenient qualification of suitable candidates. To avail of benefits under the scheme, users need to fulfil the minimum eligibility for PM Awas Yojana and secure their places as beneficiaries under the PMAY list.

Apply for a home loan with a registered Primary Lending Institution (PLI) post such selection to avail yourself of PMAY interest subsidy. Check out the minimum Pradhan Mantri Awas Yojana eligibility criteria needed to avail of subsidy benefits.

Pradhan Mantri Awas Yojana Eligibility Criteria

Beneficiaries satisfying the eligibility for Pradhan Mantri Awas Yojana are identified under the following four categories for subsidy distribution.

     1. EWS or Economically Weaker Section

     2. LIG or Lower Income Group

     3. Middle Income Group I or MIG-I

     4. Middle Income Group-II or MIG-II

Based on their economic strata, other minority categories are also identified under this scheme for subsidiary distribution. They include Scheduled Caste, Scheduled Tribe, Other Backward Castes, and Women. However, eligibility for Pradhan Mantri Awas Yojana subsidy benefits is determined based on the first four categories only.

They can be further grouped into LIG/EWS beneficiaries and MIG beneficiaries to better identify their eligibility for PMAY. Here’s a look.

The following parameters typically define an individual or household’s Pradhan Mantri Awas Yojana loan eligibility.

  • Applying individual/household must not have any pucca house to his/her/their name.
  • Property co-ownership must be mandatorily held by a female member of the family for this Pradhan Mantri Yojana home loan eligibility.
  • Any housing scheme assistance must not have been availed from any government for PMAY loan eligibility fulfilment under this category.
  • The selected property must be located in any of the statutory towns identified under the 2011 Census or any updated planning area adjacent to them.

Alongside, property ownership must accompany the membership of one adult female in the household for LIG/EWS applicants.

Few other essential parameters to identify beneficiary categories and their Awas Yojana scheme eligibility requirements are tabulated below.

Parameters MIG-II MIG-I LIG EWS
Total household income per annum Rs.12 lakh Rs.9 lakh Rs.6 lakh Rs.6 lakh
Maximum loan tenure for subsidy calculation 20 years 20 years 20 years 20 years
Maximum carpet area of the dwelling unit (In sq. m.) 200 160 60 30
Maximum loan amount Rs.12 lakh to Rs.18 lakh Rs.6 lakh to Rs.2 lakh Rs.3 lakh to Rs.6 lakh Up to Rs.3 lakh
Interest rate subsidy available on home loans 3% 4% 6.5% 6.5%

 

An applicant’s eligibility can also be identified based on the following Pradhan Mantri Awas Yojana criteria.

     1. Eligibility for PMAY Gramin Scheme: EWS, LIG, and those identified Below Poverty Line.

     2. Eligibility for PMAY Urban scheme: EWS, LIG, MIG-I, and MIG-II.

     3. Eligibility for PMAY CLSS: LIG and MIG.

Steps to Check PMAY Eligibility Criteria

Complete a few simple steps to check whether you fulfil the Awas Yojana eligibility requirements.

Step 1: Check if anyone in the family owns a pucca house.

Step 2: Calculate your household’s annual income to confirm if it remains under Rs.18 lakh. Add up your spouse’s income for this calculation to determine eligibility criteria for PMAY.

Step 3: User must purchase or invest in new house construction to avail benefits under PMAY.

Step 4: Check if the construction of the property purchased through a home loan was completed within 3 years of loan disbursal or not for subsidy benefits.

Step 5: Proceed to check if the property is located in the identified area.

Step 6: Also confirm if you or your family has availed of any government-led housing scheme benefit.

Once confirmed, decide on your eligibility for Pradhan Mantri Awas Yojana and proceed to apply accordingly.

Pradhan Mantri Awas Yojana Subsidy

A household’s PM Awas Yojana eligibility for a subsidy is based on the following essential factors –

  • CLSS beneficiary category: The beneficiary category is largely responsible for Pradhan Mantri Awas Yojana eligibility for subsidy. It determines the maximum loan amount available for a subsidy, maximum tenure applicable, and the total subsidy amount available for the category.
  • Subsidy rate applicable: The applicable subsidy rate for an individual/household determines the total subsidy amount and is directly proportional to any change in this amount.
  • Total loan amount availed: A higher loan amount also increases the interest subsidy and vice versa. It is, however, also limited to each CLSS category.
  • Tenor selected: The longer a loan’s tenor, the higher an interest subsidy can go.
  • Household income: A beneficiary with a high income receives a reduced subsidy on home loan interest and vice versa.

How to Track PMAY Application Status?

Individuals satisfying eligibility for PMAY home loan can check their PMAY application status via the official website dedicated to this scheme in either of the following ways. Once on the website, navigate to the ‘Track Application Status’ option to proceed.

     1. Through assessment ID

‘Assessment ID’ is available as a tracking option on the designated page. Select it and proceed to provide the required ID and registered mobile number to view your PMAY application status.

     2. Via personal details

Users can also choose to track the status via personal details, i.e., applicant’s name, father’s name, district, and mobile number. Once you have entered these details, the application status will be visible on the screen.

Make sure to fulfil all the Pradhan Mantri Awas Yojana eligibility requirements to improve your chances of selection as a beneficiary for affordable housing.