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PMAY Eligibility Checker

PMAY (Urban) gives interest subsidy of up to ₹2.67 lakh on home loans. EWS (≤ ₹3L income) and LIG (≤ ₹6L) are currently active; MIG schemes closed for new applications since 2022.

₹5,00,000
Status
Eligible ✓
LIG (Low Income Group)

Eligible. Women co-owner gives priority. Subsidy up to ₹2.67L on home loan interest.

Max subsidy: ₹2,67,000

How it works

PMAY (Urban) 2.0 was launched on 1 September 2024 with a ₹10 lakh crore outlay to build 1 crore homes over five years. Under the Credit-Linked Subsidy Scheme (CLSS-vertical), eligible households get a 4% interest subsidy on home loans up to ₹8 lakh, with the subsidy paid in five equal annual instalments capped at ₹1.80 lakh in NPV terms (plus separate state benefits). EWS / LIG slabs (annual income up to ₹3L / ₹9L) are active; MIG-I and MIG-II under PMAY 1.0 closed for new applications on 31 March 2022.

Worked example

A Pune-based salaried couple with combined annual income of ₹8 lakh (LIG) buying a 50 sqm carpet-area flat for ₹35 lakh takes a ₹25 lakh home loan at 8.5% for 20 years. EMI = ₹21,696. Under PMAY CLSS, they receive a ₹1.80 lakh subsidy upfront, bringing the effective loan to ₹23.20 lakh and EMI to ₹20,134 — lifetime savings of ~₹3.75 lakh in interest.

When to use this

  • First-time home buyers in Tier-1 or Tier-2 cities under PMAY-U areas
  • Couples checking whether to apply individually or jointly (income clubs)
  • Builders confirming carpet-area limits (60 sqm EWS, 60–120 sqm LIG)
  • NRIs returning to India for the first time

To estimate EMI on the subsidised loan, use the EMI calculator, and compute stamp duty payable on the purchase with the state-wise stamp duty calculator.

FAQ

How is the subsidy paid?

Bank credits the subsidy upfront to your loan account, reducing your principal. Your EMI then drops slightly. NHB/HUDCO routes the subsidy from govt within 3-4 months of loan disbursement.

I had a house earlier and sold it — am I eligible?

PMAY excludes families that currently own a pucca house. Past ownership doesn't disqualify if you don't own one now. Bank verifies via affidavit + revenue records.

Can both husband and wife claim PMAY separately?

No. Family is treated as a single beneficiary unit (husband + wife + unmarried children). Only one PMAY benefit per family.