PMAY (Pradhan Mantri Awaas Yojana)

PURPOSE
  1. PMAY Scheme is an initiative provided by Govt. of India which aim at providing affordable housing to the urban poor. The mission is to provide housing for all by the year 2022, by that time Nation completes 75 years of its Independance.
ELIGIBILITY
  1. A beneficiary Family will comprise husbands, wife and unmarried children. The beneficiary family should not own a pucca house (an all weather dwelling unit) either in his/her name or in the name of same of any member of his/her family in any part of India.
  2. Economical Weaker Section (EWS): EWS Household are defined as households having an annual income upto ₹ 3,00,000/- (Rs. Three lakh Only) and house size up to 30 sq. m
  3. Low Income Group (LIG): LIG Household are defined as households having an annual income between ₹ 3,00,001/- (Rs. Three lakhs One Only) upto ₹ 6,00,000/- (Rs. Six lakhs Only) and house size up to 60 sq. m
  4. MID Income Group (MIG): MIG Household are defined as households having an annual income between ₹ 6,00,001/- (Rs. Six lakhs One Only) upto ₹ 12,00,000/- (Rs. Twelve lakhs Only)
  5. MID Income Group (MIG-2): MIG-2 Household are defined as households having an annual income between ₹ 12,00,001/- (Rs. Twelve lakhs One Only) upto ₹ 18,00,000/- (Rs. Eighteen lakhs Only)
LOAN AMOUNT
  1. As per Bank's existing Housing Loan Scheme
MARGIN
  1. As per Bank's existing Housing Loan Scheme
INTEREST RATE
  1. As per Bank's existing Housing Loan Scheme