The PM Awas Yojana scheme is an initiative taken by the Central Government of India to provide ‘housing for all’ by 2022. It has two modules – Pradhan Mantri Awas Yojana urban for the urban poor and the Pradhan Mantri Awas Yojana for the rural poor. If you avail the Credit-Linked Subsidy Scheme (CLSS), then you can enjoy interest subsidies either on the purchase or the construction of a home or its renovation.
But, to avail the facilities of PMAY, you need to qualify the eligibility criteria. You need to belong to any of these following category:
- Economically Weaker Section (EWS) with an annual income of up to Rs.3 lakhs
- Low Income Group (LIG) with annual income between Rs.3 lakhs to Rs.6 lakhs
- Middle Income group (MIG 1) with annual income between Rs.6 lakhs to Rs.12 lakhs
- Middle Income Group (MIG 2) with annual income between Rs.12 lakhs to Rs.18 lakhs
Apart from these, if you belong to minority section or you are a woman, you can apply under PMAY. But, you or your family members should not have a pucca house anywhere in India.
To know more about PMAY, read:
Reduce your Home Loan EMI under PMAY Scheme
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