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PM Awas Yojana

PMAY – Features & Benefits

“Housing for All” Mission for urban area has been implemented with effect from 17.06.2015 to provide central assistance to implementing agencies. The Credit Linked Subsidy Scheme is being offered under this mission.

For Middle Income Group(MIG), the interest subsidy will be provided on housing loans for acquisition/construction of houses (including repurchase).

For Economically Weaker Section(EWS)/Lower Income Group(LIG), the interest subsidy will be provided on housing loans for acquisition, construction of house. The Credit Linked subsidy would also be available for housing loansavailed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing.

The interest subsidy benefit will be upfront on the principal outstanding.

The availability and amount of interest subsidy is subject to meeting income criteria as per various categories under the scheme.


  • 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

Key Parameters*

Household Income (Rs. p.a)0-3,00,0003,00,001-6,00,0006,00,001-12,00,00012,00,001-18,00,000
Eligible Housing Loan Amount for Interest Subsidy (Rs.)Up to 6,00,000Up to 6,00,000Up to 9,00,000Up to 12,00,000
Interest Subsidy (% p.a.)6.50%6.50%4.00%3.00%
Maximum loan tenure (in years)20202020
Maximum dwelling unit carpet area30 Sq. m.60 Sq. m.160 Sq. m.200 Sq. m.
Discount Rate for Net Present Value (NPV) calculation of interest subsidy (%)9.00%9.00%9.00%9.00%
Max. Interest Subsidy Amount (Rs.)2,67,2802,67,2802,35,0682,30,156
Lump sum amount paid per sanctioned to PLIs in lieu of Processing Fee (Rs.) to the extent of loan amount on which subsidy is applicable.300030002,0002,000
Application of scheme on existing home loans sanctioned on or after17.06.201501.01.2017
Applicability of No Pucca HouseNot for renovation/upgradationYesYes
Woman Ownership/Co-ownershipMandatory for new acquisition, Not mandatory for existing propertyNot mandatoryNot mandatory
Quality of House/Flat ConstructionNational Building Code, BIS Codes and as per NDMA Guidelines adopted
Approvals for the Building DesignCompulsory
Basic Civic Infrastructure (water, sanitation, sewerage, road, electricity etc.)Compulsory


*The Details mentioned above are based on the scheme framed by the Government of India under the Pradhan Mantri Awas Yojana (PMAY). These are subject to change as and when there is a change in the scheme by the Government of India.

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