The Pradhan Mantri Awas Yojana (PMAY)

PMAY  is a central Government scheme with the aim to provide Housing for All in urban areas by 2022. The PMAY mission provides central assistance across different states and UTs for providing houses to all eligible families and beneficiaries. The PMAY mission is implemented across different agencies, banks.

The Pradhan Mantri Awas Yojana (PMAY)Eligibility criteria & Condition: 

•  Beneficiary max age 70 years.
•  Individuals singly or jointly.
•  HUFs are not eligible.
•  Resident Indians.
• EWS(Economically Weaker Section) Annual household income up to Rs 3 lakh and house size up to 30 square metres.
• LIG(Low Income Group) Annual household income between Rs 3 to 6 lakh and house size up to 60 square metres.
• MIG I - Households are defined as households having an annual income between Rs.6, 00,001 .
• MIG II - Households are defined as households having an annual income between Rs.12, 00,001 up to Rs.18, 00,000 .
• The carpet area of house under this Scheme should be up to 160 sq. mts. for MIG-I beneficiaries and up to 200 sq. mts. for MIG-II beneficiaries.

The Pradhan Mantri Awas Yojana (PMAY)Sudsidy and salient features:

Beneficiaries of the PMAY scheme that fall into EWS and LIG categories are eligible for interest subsidy of 6.5% The subsidy is provided to the loan component up to the extent of Rs.6 lakh.Tenure 20 (twenty) years or full period of the loan.

MIG I & MIG II

Particulars	MIG I	MIG II
Interest subsidy	4%	3%
Maimum Loan Tenure	20 years	20years
Min	600001	1200001
Max	1200000	1800000
Identity Proof	Addhar card ,Pan card	Addhar card , Pan card

Eample Is Given :