You Must know Eligibility and Criteria Before Applying Under PMAY Yojana - Loan Trivia

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Thursday, 3 June 2021

You Must know Eligibility and Criteria Before Applying Under PMAY Yojana



In a quest to fulfill the housing needs of millions of poor people living in urban and rural India, the Pradhan Mantri Awas Yojana (PMAY) was launched. 

PMAY saw the light of the day in 2015 and was launched by PM Modi. 

Anyone having the required PMAY eligibility can help you to apply for the scheme and get the benefits. 

You can also enjoy the lowest interest rate on housing loans with a subsidy as per your income groups. 

On that note, let’s learn about PMAY eligibility in this post!

A quick look at the PMAY eligibility conditions 

  1. The applicant of the Pradhan Mantri Awas Yojana or a beneficiary family must not own a pucca home anywhere across India. A beneficiary family means a husband, wife, unmarried daughters and unmarried sons.  

  2. Any household earning an income ranging between Rs.3 lakh and Rs.18 lakh are eligible to apply for the PMAY. An annual income of the spouse can also be added while applying. 

  3. If you want to avail of the PMAY benefits on an already built home, it is not possible. 

  4. The beneficiary family must not have taken any assistance from the Central/State Governments under earlier housing schemes. 

  5. If the applicant is already married, either of the spouses or together in joint ownership are eligible to enjoy a single subsidy. 

If your yearly income is up to Rs.3 lakh, you belong to the Economically Weaker Section (EWS). 

A yearly income earning applicant ranging between Rs.3 lakh and Rs.6 lakh belong to the Lower Income Group (LIG). 

Anyone earning a yearly income between Rs. 6 lakh and Rs.12 lakh is under Middle Income Group 1. 

On the other hand, an applicant with an annual income between Rs.12 lakh and Rs.18 lakh will be counted under MIG 2. 

If you can meet the PMAY eligibility, it is possible to avail yourself of the benefits of the scheme quickly. 


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