The Pradhan Mantri Awas Yojana (PMAY) is a housing scheme of the Central Government of India. It was launched in 2015 by PM Narendra Modi. It intended to provide affordable housing solutions to economically weaker sections of society.
Under this, houses using sustainable technologies were to be built with the tagline ‘Housing for all by 2022.’
Under PMAY, it is also possible to enjoy a home loan interest rate subsidy to 6.5% up to Rs.2.67 lakh. This facility is available under the credit linked subsidy scheme (CLSS) of the PMAY.
However, to apply for Pradhan Mantri Yojana, one needs to meet the PMAY eligibility. Here is a quick look at the PMAY eligibility conditions in this post!
A quick look at the PMAY eligibility
- The applicant or the other member of the beneficiary family must not own any pucca home anywhere in India. A beneficiary family means a husband, wife, unmarried sons and daughters.
- A household having a yearly income of up to Rs.18 lakh can apply under PMAY. The annual income of the spouse can also be included.
- The applicant is not eligible to avail of PMAY benefits on an already built home.
- The beneficiary family must not have availed assistance from Governments in the past under any previous housing plans.
- If the applicant of the PMAY is married, both in joint ownership or either of the partners can avail of a single subsidy.
You now have an idea of the PMAY eligibility. If you have already applied under the PM Awas Yojana, you can check out your name in the PMAY list on the official website.
If you do not meet the eligibility criteria of PMAY, you can avail of a home loan from leading lenders at affordable rates and simple terms.
Read Also: Check for PMAY New List 2020-21
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