Subsidy benefits under Pradhan Mantri Awas Yojana
scheme availability
Applicable for four customer income groups;
- Economically Weaker Section (EWS)
- Low Income Group (LIG)
- Middle Income Group-I (MIG-I)
- Middle Income Group-II (MIG-II)
- Families with total household income up ranging from ₹ 1 Lakh to ₹ 18 Lakhs can avail the benefit of subsidy
- Different carpet areas defined for different income group of customers
- Subsidy of 3% to 6.5% on the eligible loan amount on different income group of customers
Conditions
- No pakka house (all weather dwelling unit) in the name of property owner or his/her spouse anywhere in india.
- Subsidy is available in semi urban and urban area only.
- 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.
- In case of married couple, either of or both spouses together in joint ownership will be eligible for a single subsidy.
- If carpet area exceeds the maximum limits then subsidy cannot be availed by the borrower.
Note: In case of construction, process of class starts only when emi of the borrower becomes due.
| Scheme | Income Group | Max. Annual Household Income | Loan Amt. qualified for Subsidy* | Rate of Interest Subsidy | Carpet Area of the housing unit | Max. Tenor | Max. Subsidy Amount |
|---|---|---|---|---|---|---|---|
| Scheme for EWS/LIG | EWS | Upto ₹ 3,00,000 lacs | ₹ 6 lacs | 6.50% | Upto 30 Sq Mtrs# | 20 Years | Max ₹ 2.67 lacs |
| LIG | ₹ 3,00,001 lacs to ₹ 6,00,000 lacs | ₹ 6 lacs | 6.50% | Upto 60 Sq Mtrs# | 20 Years | Max ₹ 2.67 lacs | |
| Scheme for MIG | MIG-I | ₹ 6,00,001 lacs to ₹ 12,00,000 lacs | ₹ 9 lacs | 4% | Upto 160 Sq Mtrs | 20 Years | Max ₹ 2.35 lacs |
| MIG-II | ₹ 12,00,001 lacs to ₹ 18,00,000 lacs | ₹ 12 lacs | 3% | Upto 200 Sq Mtrs | 20 Years | Max ₹ 2.30 lacs |