How to the Get Subsidy on a own house|pradhan mantri awas yojana | Subsidy Providing Bank list]

How to Get a House Subsidy|pradhan mantri awas yojana | List of Subsidy Providing Banks]

Yojana Pradhan Mantri Awas (PMAY)

What exactly is PMAY?

The Pradhan Mantri Awas Yojana (PMAY) is a government of India initiative aimed at reducing poverty in India’s rural areas by 2022. The plan was established for the first time on June 1, 2015. The PMAY scheme’s pleasure rate begins at THE 6.50 sire and can be used for a period of up to 20 years. The deadline for receiving benefits under the PMAY CLSS scheme for the LIG and EWS groups has been extended to March 31, 2022.

PMAY Scheme Features and Benefits


  • Under the PMAY Scheme, the subvention interest rate is set at 6.50 percent for all recipients who take up a 20-year loan.
  • In the allocation of the ground bottoms, disabled and elderly people will be given priority.
  • The use for building would be sustainable and environmentally beneficial robotization.
  • The project encompasses the entire country’s municipality regions, which have 4041 approved megalopolises, with the 500 Class I megalopolises receiving first priority. This will be accomplished in three stages.
  • From the beginning, the credit join subsidy point of the PM Awas Yojana has attracted interest in India in all accept megacities.

Beneficiaries of the Pradhan Mantri Awas Yojana


Under the PMAY plan, the receiver can be listed as follows:

Annual Benefits

MIG I (Middle Income Group I) ranges from Rs.6 lakh to Rs.12 lakh.

MIG II (Middle Income Group I): Rs.12 lakh to Rs.18 lakh

Groups with Lower Income (LIG) range from Rs.3 lakh to Rs.6 lakh.

Up to Rs.3 lakh for the Economically Weaker Section (EWS).


People belonging to the SC, ST, and OBC groups, as well as women belonging to the EWS and LIG income groups, will be eligible for the PMAY scheme.

PMAY Beneficiaries’ Identification and Selection


The Pradhan Mantri Awas Yojana-Town plan contributes significantly to the collective poor’s covering needs. The project also includes provisions for slum dwellers who live in limited parts of slums with insufficient structures, sanitation, and drinking facilities.


Middle-income groups (MIGs), low-income groups (LIGs), and the Economically Weaker Section are all recipients of the PMAY-U. (EWS).


While EWS recipients are eligible for full assistance under the scheme, LIG and LIG recipients are only eligible for the Credit Linked Subsidy Scheme (CLSS) under the PMAY.


To be accepted as a LIG or EWS recipient under the Scheme, the applicant must submit an affidavit as proof of income to the authority.


PMAY Scheme Types


The PMAY plan has two members who are separated into the base of the area on which they direct.

1. Pradhan Mantri Awas Yojana Gramin – Previously known as the Indira Awas Yojana, the Pradhan Mantri Awas Yojana – Gramin (PMAY-G) was renamed as a PMAY-G in 2016. The initiative aims to reduce the force of the reduction and make covering units accessible to the authorised receiver in India’s pastoral regions ( banning Chandigarh and Delhi). The Government of India and the concerned state governments share the expense of developing the covering volume at a rate of 6040 for plain regions and 9010 for North-Eastern and scarred regions under this scheme.


2. Awas Pradhan Mantri As the name implies, Yojana Urban – Urban (PMAYU) is centred on collaboration regions in India. There are currently megalopolises and megalopolises that are part of this project. The scheme is set to be responsible for three distinct stages.

From April 2015 to March 2017, the government chose to cover 100 metropolises in a few countries and UTs across the country under Phase 1.
Stage 2 Between April 2017 and March 2019, the government chose to cover 200 additional metropolises and UTs around the country under Phase 2.
Stage 3 Under Phase 3, the government will choose to cover the metropolises that were left out of Phases 1 and 2 and will complete the selection by March 2022.

Interest Subsidy for PMAY


Interest Subsidy Details Loan Maximum for Subsidy

Rs.6 lakh EWS 6.50 percent per annum

Rs.6 lakh LIG 6.50 percent per annum

MIG -1 4% p.a.

MIG-2 3% p.a.


Subsidy Calculator for the Pradhan Mantri Awas Yojana


The Pradhan Mantri Awas Yojana initiative aims to standardise the process of purchasing a home for the poor and ailing sectors of society by using EMIs at reasonable interest rates. Because the interest rate is substantially lower than business rates, customers can get loans at a reduced cost.

To calculate your EMI, go to the Pradhan Mantri Awas Yojana website and fill out the http// Calculator.aspx form.


  • In rupees, the entire loan amount
  • The interest rate is
  • The length of the loan in months

Once the following points are in agreement, select the’ Calculate’ option. This will show you the outstanding yearly appointment or EMI in rupees.

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