Income Eligibility Criteria for Pradhan Mantri Awas Yojana Urban Housing Loan

March 19, 2017 | Last Modified: March 23, 2017 at 10:27 am | Category: Central Government, Pradhan Mantri Yojana

Income eligibility criteria for Pradhan Mantri Awas Yojana has been revised by introducing a new income level category. As per the new income eligibility criteria, people with higher income can also avail subsidy on housing loans. Prime Minister Narendra Modi also announced the increase in the home loan amount on 31st December.

The government has now also increased the PMAY home loan tenure from 15 to 20 years. As per the earlier scheme, people with annual income below Rs. 6 lakh can avail housing loans under the Pradhan Mantri Awas Yojana with interest subsidy of 6.5% for a maximum 15 years. The earlier scheme is however kept unchanged and new PMAY home loan schemes have been introduced.

Below are the details of new income eligibility criteria for availing home loans under Pradhan Mantri Awas Yojana – Urban

PMAY Home Loan Income Eligibility Criteria

Maximum Annual Income Loan Amount Interest Subsidy Maximum Tenure
6 Lakh (Old Scheme) 6 Lakh 6.5% 20 Years
12 Lakh 9 Lakh 4% 20 Years
18 Lakh 12 Lakh 3% 20 Years

The maximum loan tenure for the earlier scheme was 15 years but now PMAY beneficiaries can avail housing loan for up to a maximum of 20 years from any of the PLI’s, Banks & HFC’s for Home Loan under PMAY.

As per the new home loan scheme, people having annual income of up to Rs. 18 Lakh can avail housing loan benefits under PM Awas Yojana for urban. The government is already disbursing loans under the earlier scheme for which the maximum annual income is 6 Lakh. The loans under the PMAY home loan schemes can be availed for new construction, purchase of a house or for refurbishing a houses which not suitable for habitation.

The benefits of the scheme can also be availed by the government employees provided they pay the income tax.

The government is inviting online applications for PMAY for assessments of candidates through its official website pmaymis.gov.in.

59 comments on “Income Eligibility Criteria for Pradhan Mantri Awas Yojana Urban Housing Loan

  1. priti says:

    I am a govt employee i want a Personnel loan , Sir can you please suggest me which personnel loan is under pradhan mantri yojana plz.

  2. Rupesh says:

    Sir, my hoam loan sanctioned in october 2016 and loan disbursed in january 2017.In october 2016 my monthly income was 48000.My co-borrower is my wife.Am i eligible for PMAY Scheme.

  3. LOKNATH BASAK says:

    my annual income 2lakh can i get this scheme?

  4. Mahesh Joshi says:

    Hello Sir,
    Firstly i took loan from HDFC in Jan’16 then in this year in April’17 i takeover this loan in SBI. so please let me know shall i eligible for PMAY scheme.

  5. ravrani ashish says:

    Sir me govt.employee hu muje isme benifit milega ya nahi or milega to kitne tak ki loan provide hogi plz sir help me.

  6. kanusing says:

    Need your help to know process for subsidy on existing Home Loan.

    I HAVE HOME LOAN 2013

    SO PLS HELP

  7. Atul Band says:

    I have existing loan in SBI housing April-16 can i avail this scheme PMAY

  8. Atul Band says:

    I have existing loan in SBI housing Nov-16 can i avail this scheme PMAY

  9. Varsha Sachin Mandavkar says:

    Dear Sir,

    We have purchased flat & taken home loan in Nov 2015 from Central Bank of India. As the policy says the scheme has become effective from 17 June 2015. As such, loans sanctioned and disbursed on and after this date would be eligible for the benefit under CLSS.

    This is our 1st property & annual income 4.5 lakh. Whether we are applicable for PMAY scheme.

    Sir plz reply me.

    Thanks & Regards,

    Varsha.

  10. Rima. Manek Dabrai says:

    I have rec’d loan of Rs. 12 lakhs for my flat at Gujarat housing board ,scheme at Gota Mig-1 in Ahmedabad ,from LICHFL in June 2017 but LiCHFL is not giving me PMAY subsidy form for MiG scheme. What to do ?

  11. Saurabh says:

    I Bought new Home in June 2017 on my wife name… We have bought first property in india… Now In July 2017 If I will go through Refinance Home loan then Am I eligible for PMAY…??

  12. Saurabh says:

    Dear Sir, I bought home in June 2017 and After bought I will go for refinance Home loan, Am I eligible for PMAY Scheme…??

  13. Megha ojha says:

    Sir my father have gross salary of rs44609,my mom earns 10000 by tution .we have a plot can we get loan of 600000 to construct house

  14. Jefferson says:

    Can we get ready built houses?

  15. Jefferson says:

    will they give free ready to occupy houses?

  16. channaveerappa,p,alur says:

    sir,

    I taken home load from HDFC last March 2017, my income Rs.5.28 lac per anum.
    I discussed about subsidy in hdfc bank but they told you are not eligibility for PRADHAN MANTRI AWAS YOJANA SUBSIDY SCHEME
    Let us know how they calculate for subsicy scheme.

  17. Vaibhav Bhoite says:

    I have taken loan of 2800000 for purchase of new flat along with my mother as coapplicant. My father has one house on his name, so will i be eligible for PMAY.

  18. Onkar says:

    I am married. My income is around 5 LPA. My wife is a home maker. Would I be eligible for this scheme. How much subsidy would I get? I wish to buy a 1 BHK in Pune of around 25 lakh. I do not own any property of my own. Please suggest.

  19. RUPA GHOSH ROY says:

    I WANT A HOUSE LOAN TO RENOVATE MY HOUSE BUT MY HOUSE IS ON MY LATE FATHER-IN-LAW’S NAME. AM I ELIGIBLE TO GET THE LOAN. WHAT ARE THE ELIGIBILITY CRITERIA FOR PM HOUSE LOAN.

  20. Dhananjayadhav says:

    I am taken home loan in 2010 near about 4 lakh ru pees can I eligible for PmAy scheme and can I get subsidy.

  21. Malkappa says:

    lower income people can also eligible to pmay scheme like annual income lower than 1 lakh rupees. not eligible to this scheme who are already own the hoouse his name or any member of the household and who are taken house loan are also not eligible.

  22. deepak chetry says:

    sir my annual income is less than 1 lake i am a fermar what i can take home loan for rebuilt in our house plz plz help me

  23. deepak chetry says:

    sir i am from udalguri assam my occupation is cultivator my annual incom is less than 1 lake i have not adhar card i have only voter id what can i take p may home loan for rebuilt in our hous

  24. deepak says:

    i have taken a loan September 2016 i am eligble for scheme

  25. Rupesh says:

    My anuual income is below 1 lakh can i Eligible for Loan?
    What is the minimun income required?

  26. Hemal says:

    I have taken home loan on 7th July 2015, i am eligible under this scheme.

  27. Hemal says:

    I have taken home loan on July 2015, i am eligible under this scheme.

  28. Hemal says:

    Hello ,

    I have taken home loan on 7/7/2015 ,whether i am eligible under this scheme.

    Thanks in advance

  29. Maheshv says:

    I have taken loan on march 2015,whether i am eligible under this scheme, yes tell me procedure

  30. Saravana kumar says:

    I am residing at China. But my salary is less than 12L/Annum. Is I am eligible for PMAY loan.

  31. archana says:

    my family income is approx 2lacs per annum and in present we live in a pucca house in noida. Am i eligible for a home under pmay scheme and in which category?what type of home i will get and where?

  32. Pradip Dhanawade says:

    Is this applicable for 30 years tenure as well ?

  33. T.Balachandar says:

    I am in Ambattur (Chennai).my annual income is about 1,80,000,can I avail pmay scheme.if it is yes ,in which place will I get my house?

  34. swapnil anil kulkarni says:

    i have purchased my first house in 2010 on loan of rs 5.5 Lakh & tenure is 20 years, can i avail this scheme. if yes how i can apply for the same

  35. Bhupendra Gangwar says:

    My annual income is less than 3 lack can I eligible for pmay or not in home loan

  36. Dinesh Kumar Gupta says:

    sir,
    my annual income is Rs.276000/- and i want to purchase a house under nagar nigam lucknow which plot area 670sqft. and purchase cost is 1700000/- and loan amount is 1500000/-
    can i avail loan subsidy from PMAY loan scheme

  37. Lekhram sharma says:

    I had purchesed a plot by bank loan now i want constuct house on it my income is less than 3.5 lack may i gate direct subsidy please reply

  38. Aswathy says:

    Sir , this benefit of the scheme is only available government employees ( PMAY Urban )
    Its not get others ? Sir
    Sir plz reply me

  39. manab jyoti deka says:

    I am been working in a private sector job….. Can I avail pmay scheme

  40. dip says:

    My annual income is more than 3lac but less than 3.5
    Should I applicable to grab this opportunity??

  41. Rajendra says:

    Sir government employees are eligible for pm awas yojana scheme and how much income for annual is eligible

  42. Ajmal Chavan says:

    it is mandatory to join wife with this scheme?

  43. Rahul shinde says:

    Please start this scheme in Pune cantonment area.

  44. Sushil sahu says:

    How can I apply for loan for a house. I work as domestic servant. I earn 10000 rs monthly.I live in delhi and I want a house in Delhi or its outskirts for eg.kundli.I have my aadhar card and voter I card…please help

  45. Sushil sahu says:

    I work as a domestic servant. Now I want to buy my house.How can I take loan.Please help

  46. sivanantham SIVA says:

    SIR, WE HAVE FAMILY MEMBERS 4,BUT I WILL STAY RENTEL HOUSE,PLEASE MAKE IN AND GIVE ME OWN HOUSE SMALL BUTJET

  47. Vishal says:

    Dear Sir,

    Need your help to know process for subsidy on existing Home Loan.

    Income Below 2 Lac.

    So please inform.

  48. Laxmish says:

    pLEASE LET ME KNOW SHALL I AVAIL PMAY AS I AM WORKING IN PVT COMPANY AND RESIDING IN bANGALORE AT RENTED HOUSE.

  49. L. B. Subba says:

    I am working in the private school can I avail PMAY. Please reply

  50. Raut says:

    Dear Sir,

    I have existing loan in lic housing April-16 can i avail this scheme PMAY

    what is procure

    Regards
    Raut

  51. VASANT SHARADRAO GORDE says:

    THE PEOPLE FROM LOW INCOME UNDER 3LAKH HAVE NOT FILL INCOME TAX RETURN BUT BANK ASK ABOUT THREE YEARS INCMETAX RETURN FOR LOAN & THATS WHY BANK REFUSES LOAN PROPOSAL WHAT CAN WE DO

  52. bheem sen says:

    i want to loan for startup my new business idea of uttrakhand tourism

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