Pradhan Mantri Awas Yojana eligibility 2022: All about PMAY eligibility criteria

[ecis2016.org] Know all about PMAY eligibility in this article.

The Pradhan Mantri Awas Yojana is a flagship mission undertaken by the government in 2015 under the “Housing for All” mission to increase homeownership among the eligible population. Under the PMAY scheme, potential first-time homebuyers can use subsidies on home loans for building, buying, renovating, or making any other extensions. You need to check out the essential eligibility criteria that potential beneficiaries must meet to avail the benefits of the PMAY scheme.

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Benefits & features of PMAY

• Under the PMAY scheme, the beneficiaries get subsidy interest at 6.50% per annum on housing loans for a maximum duration of 20 years.
• Preference of ground floor allocation is given to senior citizens.
• The housing is made using sustainable and eco-friendly materials.
• The scheme covers 4041 statutory towns in which 500 Class-I cities are given the first priority.

Primary beneficiaries of the PMAY scheme

• EWS
• LIG
• MIG – I
• MIG – II

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Applicants from SC, ST and OBC categories and women from EWS and LIG income groups can also apply for PMAY eligibility.

PMAY eligibility 2022 for EWS and LIG

• The annual household income of the applicant must be Rs. 3 lakh for Economically Weaker Section (EWS) and Rs. 3 lakh – Rs. 6 lakh for Lower Income Group (LIS).
• The applicant will be given a housing loan amount of up to Rs. 6 lakh for interest subsidy for a maximum duration of 20 years. Non-subsidised rates will be applicable on any exceeding amount.
• The dwelling unit carpet Area (sq.m.) would be up to 30 sq.m. for EWS and up to 60 sq.m. for LIS.
• The scheme will not allow the upgradation or renovation of a pucca house. 
• Ownership/co-ownership of women is not required for an existing property but is compulsory for a new possession.
• Rs. 3,000 will be paid in lump payment for every approved housing loan application.
• A maximum subsidy of Rs. 2.67 Lakh will be provided to every eligible applicant
• The beneficiary should not have undertaken any financial help from India’s Central or State Government.
• Having an Aadhar card is a must for every applicant.

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Key highlights of Pradhan Mantri Awas Yojana Eligibility 2022 for EWS and LIG

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[ecis2016.org] All about PMAY LIG eligibility

Pradhan Mantri Awas Yojana eligibility 2022 for MIG – I and MIG – II 

• The annual household income of the applicant must be Rs. 6 lakh – Rs. 12 Lakh for Middle Income Group-I (MIG – I) and Rs.12 lakh – Rs. 18 lakh for middle income group-II (MIG – II).
• The applicant will be given a housing loan amount of up to Rs. 9 lakh (MIG – I) and up to Rs. 12 Lakh (MIG – II)  for interest subsidy for a maximum period of 20 years. Non-subsidized rates will be applicable for any extra amount.
• The dwelling unit carpet area (sq.m.) would be up to 160 sq.m. for MIG – I and up to 200 sq.m. for MIG – II.
• Women’s ownership/co-ownership is not mandatory.
• Rs. 2,000 will be paid in lump payment for every approved housing loan application instead of a processing fee.
• A maximum subsidy of Rs. 2.67 Lakh will be provided to every eligible applicant
• Having an Aadhaar card is a must for every applicant.

Key Highlights of The Pradhan Mantri Awas Yojana Eligibility 2022 for EWS and LIG

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