Income Eligibility Criteria for Pradhan Mantri Awas Yojana Urban Housing Loan

Updated: By: 84 Comments - Leave a Comment

Income eligibility criteria for Pradhan Mantri Awas Yojana has been revised by introducing a new income level category. As per the new income eligibility criteria, people with higher income can also avail subsidy on housing loans. Prime Minister Narendra Modi also announced the increase in the home loan amount on 31st December.

The government has now also increased the PMAY home loan tenure from 15 to 20 years. As per the earlier scheme, people with annual income below Rs. 6 lakh can avail housing loans under the Pradhan Mantri Awas Yojana with interest subsidy of 6.5% for a maximum 15 years. The earlier scheme is however kept unchanged and new PMAY home loan schemes have been introduced.

Below are the details of new income eligibility criteria for availing home loans under Pradhan Mantri Awas Yojana – Urban

PMAY Home Loan Income Eligibility Criteria

Maximum Annual IncomeLoan AmountInterest SubsidyMaximum Tenure
6 Lakh (Old Scheme)6 Lakh6.5%20 Years
12 Lakh9 Lakh4%20 Years
18 Lakh12 Lakh3%20 Years

The maximum loan tenure for the earlier scheme was 15 years but now PMAY beneficiaries can avail housing loan for up to a maximum of 20 years from any of the PLI’s, Banks & HFC’s for Home Loan under PMAY.

As per the new home loan scheme, people having annual income of up to Rs. 18 Lakh can avail housing loan benefits under PM Awas Yojana for urban. The government is already disbursing loans under the earlier scheme for which the maximum annual income is 6 Lakh. The loans under the PMAY home loan schemes can be availed for new construction, purchase of a house or for refurbishing a houses which not suitable for habitation.

The benefits of the scheme can also be availed by the government employees provided they pay the income tax.

The government is inviting online applications for PMAY for assessments of candidates through its official website pmaymis.gov.in.

Central Government Schemes 2020केंद्र सरकारी योजना हिन्दीPopular Schemes in Central:Narendra Modi Schemes Listसरकारी योजनाओं की सूची हिंदी मेंPradhan Mantri Awas Yojana Gramin List

SAVE AS PDF
Related Content

84 thoughts on “Income Eligibility Criteria for Pradhan Mantri Awas Yojana Urban Housing Loan”

  1. pl I have son. land property is in my name , as only eligible son in future heis to get my property. no source of income for my son. i want a separate house for him.can i get a house for this son fm pmay-g. pl comment.

    Reply
    • Mr. Rethinasamy Ayyalu, PMAY-G Scheme is not applicable for the persons who or his family members possess land in their name. This is only for the poor and destitute people who does not have their own house.
      ** Share your comments & discuss with other community members on Sarkari Yojana Forums forums.sarkariyojana.com

      Reply
  2. I am a Pvt Co Employee and I Have purchased a Flat and its Registry was done on my name, weather I am eligible for the Pradhan Mantri Awas Yojna, the House was purchased in year 2016.

    Reply
  3. I am a Central Govt Employee and I Have purchased a House and its Registry was done on my name, weather I am eligible for the Pradhan Mantri Awas Yojna, the House was purchased in year 2015.

    Reply
  4. I am a Central Govt Employee and I Have purchased a House and its Registry was done on my name, weather I am eligible for the Pradhan Mantri Awas Yojna, the House was purchased in year 2015.

    Reply
  5. Dear Sir/Mam
    My name is Dinesh Rana and I am from solan, Himachal Pradesh.

    Sir, my father is an ex army person. He is 65 Years old. His pension is around 22k.

    My elder brother is presently working in Patanjali Ayurveda his age he is 32 years unmarried men. His salary is 23k per month.

    We have recently purchase a 1600 sqt feet area.

    Sir My faher and my brother both don’t have any property, land and pucca house in any area of india.

    My Father and brother jointly apply for the loan of 20 lakhs under Pnb bank subathu district solan (H.P).

    Sir i just want to know that is my father and brother jointly eligible for the house loan under Pradhanmantri Awas Yojna.

    Reply
  6. Dear Sir,
    I bought home in August 2017 and After bought I will go for refinance Home loan, Am I eligible for PMAY Scheme…?? please suggest

    Reply
  7. sir ,
    i constructed a house with carpet area on ground floor 85 meter square and first floor has 46 square meter
    so total carpet area is 131 square meter without avoiding toilet area,work area (toilet area+work area=12 square meter) and my family imcome between 6 lakhs to 12 lakhs (in pmay scheam mig-1 group) ok ? sir , my question is i am eligible for credit linked subsidy scheam in pmay loan

    Reply
  8. I am working in a government undertaking corporation. (KERALA STATE ROAD TRANSPORT CORPORATION) My net salary is Rs 21000/month . I have a family(wife and two children) But my property is in a single ownership, that is mine. Am I eligible for loan subsidy.?

    Reply
  9. I was having one home at Jaipur, I have sold out that flat, since I have moved out professionally from jaipur and started to work at Ahmedabad.

    Now I have purchased one flat at Gandhinagar ( at this point of time this is my first property), whether I am eligible for PMAY scheme or not ??

    Please guide ?

    Reply
  10. I have got the loan sanctioned in Oct 2016 and partly disbursed in Nov 2016. However I have to yet register my property. So Can I get the benefit of Pradhan Mantri Awas yojana…my income is in 12-18 lakh slab. Loan tenure is 25 years for now but can be down size to 20 years before registration.

    Reply
  11. Dear Sir, I bought home in Mar2017. But home registration is my name..No woman are co borrowers
    My annual income 4 lacs..can I eligible for PMAY Scheme

    Reply
  12. I am presently staying in my Mother’s home. (She is the only owner of the house there is no co applicant for her house)
    This is my first home, I am buying in my name.
    It is mandatory to have a co applicant for taking home loan that why I have put my father name as a co applicant. My father don’t have any home in his name.
    (co applicant – My father) I will get benefit of Pradhan Mantri Awas Yojana Or can I applied loan under Pradhan Mantri Awas Yojana in my name only.

    Reply
  13. dear sirDear Sir, I bought home in June 2017 and After bought I will go for refinance Home loan, Am I eligible for PMAY Scheme…??I have rec’d loan of Rs. 6 lakhs

    Reply
  14. Which income is considered to get this subsidy?gross or net. And we are getting incentives how much percennt is considered for this.Please advise. It will help me to take decision.

    Reply
  15. Sir I am semi gov servent and my anul income 6. 50 lakh also my loan sanction ed from bank of India (20 lakh) for 20 year period .sir may illegible for awas yojna scheme ?please reply.

    Reply
  16. I have not purchased a flat yet. I am planning to buy an old flat of rs. 30 lakhs of HUDA colony in Faridabad. Can I get the pradhan mantra awas yojna and my early salary is 7 to 8 lakhs. please suggest me whether I will get the benefit of pradhan mantra awas yojna in purchasing old flat or new constructed gflat. please guide me.
    (G.V. Swamy

    Reply
  17. Sir I have a 1.77 cents with a small house but I can’t stay in that house can I apply for pmay scheme for buy an old flat required 10 lakh rupees

    Reply
  18. I am a govt employee i want a Personnel loan , Sir can you please suggest me which personnel loan is under pradhan mantri yojana plz.

    Reply
  19. Sir, my hoam loan sanctioned in october 2016 and loan disbursed in january 2017.In october 2016 my monthly income was 48000.My co-borrower is my wife.Am i eligible for PMAY Scheme.

    Reply
  20. Hello Sir,
    Firstly i took loan from HDFC in Jan’16 then in this year in April’17 i takeover this loan in SBI. so please let me know shall i eligible for PMAY scheme.

    Reply
  21. Sir me govt.employee hu muje isme benifit milega ya nahi or milega to kitne tak ki loan provide hogi plz sir help me.

    Reply
  22. Dear Sir,

    We have purchased flat & taken home loan in Nov 2015 from Central Bank of India. As the policy says the scheme has become effective from 17 June 2015. As such, loans sanctioned and disbursed on and after this date would be eligible for the benefit under CLSS.

    This is our 1st property & annual income 4.5 lakh. Whether we are applicable for PMAY scheme.

    Sir plz reply me.

    Thanks & Regards,

    Varsha.

    Reply
  23. I have rec’d loan of Rs. 12 lakhs for my flat at Gujarat housing board ,scheme at Gota Mig-1 in Ahmedabad ,from LICHFL in June 2017 but LiCHFL is not giving me PMAY subsidy form for MiG scheme. What to do ?

    Reply
  24. I Bought new Home in June 2017 on my wife name… We have bought first property in india… Now In July 2017 If I will go through Refinance Home loan then Am I eligible for PMAY…??

    Reply
  25. Dear Sir, I bought home in June 2017 and After bought I will go for refinance Home loan, Am I eligible for PMAY Scheme…??

    Reply
  26. Sir my father have gross salary of rs44609,my mom earns 10000 by tution .we have a plot can we get loan of 600000 to construct house

    Reply
  27. sir,

    I taken home load from HDFC last March 2017, my income Rs.5.28 lac per anum.
    I discussed about subsidy in hdfc bank but they told you are not eligibility for PRADHAN MANTRI AWAS YOJANA SUBSIDY SCHEME
    Let us know how they calculate for subsicy scheme.

    Reply
  28. I have taken loan of 2800000 for purchase of new flat along with my mother as coapplicant. My father has one house on his name, so will i be eligible for PMAY.

    Reply
  29. I am married. My income is around 5 LPA. My wife is a home maker. Would I be eligible for this scheme. How much subsidy would I get? I wish to buy a 1 BHK in Pune of around 25 lakh. I do not own any property of my own. Please suggest.

    Reply
  30. I WANT A HOUSE LOAN TO RENOVATE MY HOUSE BUT MY HOUSE IS ON MY LATE FATHER-IN-LAW’S NAME. AM I ELIGIBLE TO GET THE LOAN. WHAT ARE THE ELIGIBILITY CRITERIA FOR PM HOUSE LOAN.

    Reply
  31. lower income people can also eligible to pmay scheme like annual income lower than 1 lakh rupees. not eligible to this scheme who are already own the hoouse his name or any member of the household and who are taken house loan are also not eligible.

    Reply
  32. sir my annual income is less than 1 lake i am a fermar what i can take home loan for rebuilt in our house plz plz help me

    Reply
  33. sir i am from udalguri assam my occupation is cultivator my annual incom is less than 1 lake i have not adhar card i have only voter id what can i take p may home loan for rebuilt in our hous

    Reply
  34. my family income is approx 2lacs per annum and in present we live in a pucca house in noida. Am i eligible for a home under pmay scheme and in which category?what type of home i will get and where?

    Reply
  35. I am in Ambattur (Chennai).my annual income is about 1,80,000,can I avail pmay scheme.if it is yes ,in which place will I get my house?

    Reply
  36. i have purchased my first house in 2010 on loan of rs 5.5 Lakh & tenure is 20 years, can i avail this scheme. if yes how i can apply for the same

    Reply
  37. sir,
    my annual income is Rs.276000/- and i want to purchase a house under nagar nigam lucknow which plot area 670sqft. and purchase cost is 1700000/- and loan amount is 1500000/-
    can i avail loan subsidy from PMAY loan scheme

    Reply
  38. I had purchesed a plot by bank loan now i want constuct house on it my income is less than 3.5 lack may i gate direct subsidy please reply

    Reply
  39. Sir , this benefit of the scheme is only available government employees ( PMAY Urban )
    Its not get others ? Sir
    Sir plz reply me

    Reply
  40. How can I apply for loan for a house. I work as domestic servant. I earn 10000 rs monthly.I live in delhi and I want a house in Delhi or its outskirts for eg.kundli.I have my aadhar card and voter I card…please help

    Reply
  41. THE PEOPLE FROM LOW INCOME UNDER 3LAKH HAVE NOT FILL INCOME TAX RETURN BUT BANK ASK ABOUT THREE YEARS INCMETAX RETURN FOR LOAN & THATS WHY BANK REFUSES LOAN PROPOSAL WHAT CAN WE DO

    Reply

Leave a Comment

CLOSESHARE ON: