Pradhan Mantri Awas Yojna
The following criteria’s to be considered while availing home loans under the Pradhan Mantri Awas Yojana:
The beneficiary family should not own a pucca house in India.
Definition of beneficiary family: A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughters. An adult earning member (irrespective of marital status) can be treated as a separate household; Provided that he / she does not own a pucca (an all weather dwelling unit) house in his / her name in any part of India.
In case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the Scheme.
Please continue reading to know more about the Pradhan Mantri Awas Yojana eligibility criteria, basis the economic groups:
| CRITERIA |
EWS-LIG |
MIG-I |
MIG-II |
| Maximum Household income per annum |
Up to Rs. 6 Lakhs |
Rs. 6 - Rs. 12 Lakhs |
Rs. 12 - 18 Lakhs |
| Maximum Property Area (carpet area) |
No restriction |
160 sq.m. |
200 sq.m. |
| Maximum loan amount for subsidy calculation |
Rs. 6 Lakhs |
Rs. 9 Lakhs |
Rs. 12 Lakhs |
| Maximum tenure for subsidy calculation |
20 years |
| Interest Subsidy (% p.a.) |
6.50% |
4% |
3% |
| Subsidy amount |
Rs. 2.67 Lakhs |
Rs. 2.35 Lakhs |
Rs. 2.30 Lakhs |
| Women ownership on property |
Yes |
Not applicable |
Not applicable |
| The beneficiary family should not own a pucca house in India |
Applicable |
Applicable |
Applicable |
| Housing loan sanction date to be eligible for subsidy |
After 17.06.2015 |
After 01.01.2017 |
After 01.01.2017 |
*In EWS /LIG category, the home loans availed for Improvement or extension also are eligible provided the maximum carpet area is 30 sq.mtr and 60 sq.mtr respectively.
** If there is no female member in the family then women ownership not required.
*** Aadhar card of all family members to be furnished to avail the subsidy.
