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PMAY scheme enables You to buy your Dream Home


Now buying a house is not just a dream for you. It can become a wonderful reality, thanks to Pradhan Mantri Awas Yojana. It is a credit-linked subsidy scheme offering key benefits to lower income groups (LIG), middle-income groups (MIG) and economically weaker sections (EWS) in India.

Eligibility criteria for PM Awas Yojana:

  • The tagline of this subsidy scheme is “Housing for all.” So, the scheme is offered for families, including husband, wife and their unmarried children.
  • In case of a married couple, either of the partners can apply for the loan or they can apply together for joint ownership. But they cannot apply separately for buying two separate houses or properties.
  • The applicant must not already own a pucca house in their name in any region in India. Nor their immediate family member must be an owner of a pucca house.
  • The applicant must not already have applied for such housing scheme under any Central or State Government scheme.
  • The Aadhaar numbers of the applicant and their family members are needed at the time of application.

How to avail the subsidy?

1. For availing the PMAY subsidy, you need to apply for the home loan from the government of India.

2. The eligibility criteria will be checked and if it’s approved, the application for a home loan will be forwarded further to the Central Nodal Agency (CNA).

3. If CNA approved the application, the subsidy amount will be given to the lender for building their dream home.

4. The amount will be credited to the applicant’s account while reducing the complete loan amount. For instance, if the applicant’s annual income is about INR 7 lakh and they want to get the loan of INR 9 lakh, the subsidy amount will be INR 2.35 lakh.

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