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A Guide on Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana (PMAY) is a scheme that offers interest subsidy on home loan to the beneficiaries. The initiative was launched in 2015 to provide affordable housing to poor citizens living in urban areas.

Read on to know more about Pradhan Mantri Awas Yojana.

Purchasing a house requires a substantial amount of money. Every individual can’t afford to buy a home with savings alone. Therefore, many home buyers seek help from banks.

To make a home purchase even more affordable, the government allows a beneficiary of the PMAY to avail interest subsidy on a home loan.

The government has classified beneficiaries in four categories depending on their annual household income-

  • Economically Weaker Section (EWS)
  • Low Income Group (LIG)
  • Middle Income Group I (MIG I)
  • Middle Income Group II (MIG II)

To enjoy the benefits of the PMAY, an applicant must meet the criteria of the scheme.

Annual Household Income Not more than Rs. 3 Lakhs Between Rs. 3 Lakhs and Rs. 6 Lakhs Between Rs. 6 Lakhs and Rs. 12 Lakhs Between Rs. 12 Lakhs and Rs. 18 Lakhs
Interest Subsidy 6.5% p.a. 6.5% p.a. 4% p.a. 3% p.a.
Maximum Carpet Area 30 Sq. Mt. 60 Sq. Mt. 160 Sq. Mt. 200 Sq. Mt.
Maximum Home Loan Tenure 20 Years 20 Years 20 Years 20 Years

Apart from the basic criteria, an applicant must also meet a few other eligibility requirements such as-

  • An applicant or any of his/her family members should not own a pucca house in the country.
  • An applicant or any of his/her family members should not have availed financial assistance from any of the state or central government’s housing scheme.
  • Senior citizens and differently abled citizens will be preferred for ground floor houses.
  • Female ownership/co-ownership is necessary.

Pradhan Mantri Awas Yojana’s Objectives

  • PMAY was launched with the aim to provide affordable housing for all by 2022.
  • Another objective of this scheme is to help women, economically challenged groups, and citizens belonging to Scheduled Tribes and Scheduled Castes buy a house.
  • With this scheme, the government also caters to lower income group citizens, transgender people, etc.

How to Apply for the PMAY Offline

  • Visit an authorised bank.
  • Fill the home loan application form.
  • Submit the necessary documents.
  • If the bank authorises the loan amount, then you need to fill the PMAY scheme form.
  • Once the loan is approved, you can select the property and register for the PMAY.

How to Apply for the PMAY Online

  • Visit the website of Pradhan Mantri Awas Yojana (
  • Click on the ‘Citizen Assessment’ option.
  • Choose the category you belong to- ‘Benefit Under Other 3 Components’ or ‘For Slum Dwellers’.
  • Then enter your 12-digit Aadhaar card number.
  • You will be redirected to the application page of the scheme.
  • Enter personal details, income details, address details, and bank account details.
  • Click ‘I am aware’ option.
  • Click the ‘Save’ button.
  • You will receive a system generated number, which you must save.
  • Print the application form.
  • Submit the application form at the nearest CSC office. Ensure to submit the necessary documents along with the form.

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