Mar 24, 2022Homes and People

How to get Pradhan Mantri Awas Yojana Benefits | Godrej Properties

by Godrej Properties Limited



The Pradhan Mantri Awas Yojana was announced by Prime Minister Shri Narendra Modi in his Independence Day speech from the Red Fort on 15th August 2015. The scheme is a part of the larger vision of Housing for All by 2022, which was announced by the Prime Minister on the same occasion and is a step towards the fulfillment of the vision of Housing for All.

If you are looking to buy a new house or apartment, it is the right move to know how to apply for Pradhan Mantri Awas Yojana Benefits. This blog will guide you on how to get the benefits of this scheme. It will explain the eligibility criteria and other things to know about this scheme.

Pradhan Mantri Awas Yojana was launched to help boost the affordable housing sector in India. This scheme is a part of the government of India's vision to build 20 million affordable houses for the urban poor and those living in rural areas by 2022.

This scheme was particularly launched to make home-buying easier for:

Low Income Group (LIG)

Economically Weaker Section (EWS)

Middle-Income Group 1 (MIG-I)

Middle-Income Group 2 (MIG-II)

Let’s have a Deeper Look at if you clear pmay subsidy eligibility:

1- Are you Eligible?

Basic Eligibility Parameters are:

  • The plan is for recipient families containing a spouse, wife, and unmarried kids. A grown-up procuring individual from a family regardless of conjugal status can be treated as a different family in the MIG class.
  • The recipient family ought not to possess a pucca house for the sake of any relative across India.
  • On account of hitched couples, both of the mate or both together in joint proprietorship will be qualified for a solitary appropriation.
  • The recipient families ought not to have benefited under any administration lodging plan including benefits of PMAY.
  • Home advance borrowers, who profited the endowment yet later on changed to one more moneylender for an equilibrium move, won't be qualified to guarantee the advantage once more.
  • Recipient families under the MIG pay bunch obligatorily need to outfit their Aadhaar numbers to profit from the advantage of the endowment.

Parameters as per income are:


  • Qualified Family Income: The yearly family pay according to the pay classification should be:
  • EWS - up to Rs. 3 lakh
  • LIG - Between Rs. 3 lakh and Rs. 6 lakh
  • Women in Ownership: Woman possession is obligatory for home loan subsidy eligibility. The house, regardless of whether new or existing, should be for the sake of a grown-up female individual from the family or in joint possession with the spouse (whenever wedded). The condition isn't compulsory if there should be an occurrence of house development or expansion/redesign of a current kuccha/semi-pucca house. The house can be exclusively for the sake of a male individual from the family if there is no grown-up female part in the family.
  • Cover Area: The greatest rug region of the house under the plan should be:
  • EWS: Upto 30 sq. mts.
  • LIG: Upto 60 sq. mts.

2. MIG (I and II)

Qualified Family Income: The yearly family pay according to the pay classification should be:

  • MIG-I: Between Rs. 6 lakh and Rs. 12 lakh
  • MIG-II: Between Rs. 12 lakh and Rs. 18 lakh

Women in Ownership: Woman possession isn't obligatory.

Cover Area: The rug region of the house under the plan should be:

  • MIG-I: 160 sq. mts.
  • MIG-II: 200 sq. mts.

2- The Process to claim PMAY:

The home credit interest appropriation under PMAY is steered through 2 focal nodal organizations - Housing and Urban Development Corporation (HUDCO) and NHB. These administration foundations channel the sponsorship to the pre-recorded loaning organizations, which further assist the qualified recipients with profiting from the interest appropriation benefit.

  • After your loan is dispensed, the loan specialist will send the expected subtleties to the National Housing Bank (NHB) for information approval and different checks.
  • NHB after due perseverance endorses the sponsorship to qualified borrowers.
  • The appropriation sum will be dispensed to the loan specialist for every single qualified borrower.
  • On getting the appropriation sum from NHB, the bank will credit something very similar to the individual home advance record of the borrower and will be changed in the advance appropriately.

Good Luck!!

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