{"id":8627,"date":"2023-08-29T03:03:10","date_gmt":"2023-08-29T03:03:10","guid":{"rendered":"\/blog\/?p=8627"},"modified":"2024-09-03T17:26:11","modified_gmt":"2024-09-03T11:56:11","slug":"who-is-eligible-for-getting-pradhan-mantri-awas-yojana-scheme","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/who-is-eligible-for-getting-pradhan-mantri-awas-yojana-scheme\/","title":{"rendered":"Who is Eligible for Getting Pradhan Mantri Awas Yojana Scheme"},"content":{"rendered":"\n<p>The Pradhan Mantri Awas Yojana (PMAY) is a unique initiative by the Indian government to provide affordable housing for everyone by the year 2022. Meant for many sections of society, it makes buying a house less heavy on the pocket. Find out if you\u2019re eligible for the PMAY scheme.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan\/pmay.html\">Know More<\/a><\/div>\n\n\n\n<p><strong>What is Pradhan Mantri Awas Yojana?<\/strong><\/p>\n\n\n\n<p>PMAY is a credit-linked subsidy scheme (CLSS) for providing affordable housing to the below \u2013 <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Economically Weaker Section\n(EWS)<\/li>\n\n\n\n<li>Low Income Groups (LIG)<\/li>\n\n\n\n<li>Middle Income Groups (MIGs) <\/li>\n<\/ul>\n\n\n\n<p>Under the scheme, homeowners get a home loan subsidy to buy, build, or renovate a house, including slum redevelopment and rural housing.The Pradhan Mantri Awas Yojana subsidy is provided by the central government to banks and NBFCs that disburse the loans by two central agencies i.e., Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB). The amount of PMAY subsidy depends on the applicant\u2019s income and category. Subsidies can also be taken for constructing additional rooms, kitchens, and toilets.<\/p>\n\n\n\n<p><strong>Pradhan Mantri Awas Yojana Eligibility<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/tata-blog.osian.dev\/home-loan\/pmay-calculator.html\">PMAY eligibility<\/a> varies as per an applicant\u2019s category &#8211; EWS, LIG, MIG-I, and MIG-II. Let\u2019s take a look:<\/p>\n\n\n\n<p><strong>EWS \/ LIG <\/strong><\/p>\n\n\n\n<p>This category forms the largest chunk of the population and needs the PMAY subsidy more than anyone else. Applicants whose annual income falls in the bracket of Rs. 3 lakhs \u2013 6 lakhs and do not own any pucca house in any part of India are part of this category. The following Pradhan Mantri Awas Yojana eligibility conditions hold &#8211;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The applicant must not have availed of any central or state assistance from the Government of India<\/li>\n\n\n\n<li>Another PMAY eligibility criterion is that the property should be co-owned by a female family member <\/li>\n\n\n\n<li>The property\u2019s location must be in a statutory town as per the 2011 census <\/li>\n\n\n\n<li>The home loan subsidy is applicable only for loan amounts up to Rs. 6 lakhs. If the applicant needs a loan beyond the amount, it will be available at a non-subsidised rate<\/li>\n\n\n\n<li>The subsidy is credited to the loan account of the applicant, which ultimately reduces their <a href=\"https:\/\/tata-blog.osian.dev\/home-loan\/rates-and-charges.html\">home loan interest rate<\/a> and EMIs<\/li>\n<\/ul>\n\n\n\n<p><strong>Additional Read<\/strong>:- <a title=\"What are the Benefits of Pradhan Mantri Awas Yojana Scheme?\" href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/what-are-the-benefits-of-pradhan-mantri-awas-yojana-scheme\/\">What are the Benefits of Pradhan Mantri Awas Yojana Scheme?<\/a><\/p>\n\n\n\n<p><strong>MIG<\/strong><\/p>\n\n\n\n<p>Pradhan Mantri Awas Yojana eligibility also extends to the middle income population. Applicants whose annual household income falls between Rs. 6 &#8211; 12 lakhs come under the first category &#8211; Middle Income Group-I (MIG-I). Those whose annual income falls between Rs. 12 &#8211; 18 lakhs come under Middle Income Group-II (MIG-II). The home loan subsidy is credited to the home loan account of the applicant, reducing their interest rate and EMI payments<\/p>\n\n\n\n<p><strong>Applying for Pradhan Mantri Awas Yojana\nSubsidy<\/strong><\/p>\n\n\n\n<p>If you or your family members qualify for the <a href=\"https:\/\/tata-blog.osian.dev\/home-loan\/pmay.html\">Pradhan Mantri Awas Yojana<\/a> subsidy, keep the following documents ready before your fill the Pradhan Mantri Awas Yojana form:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ID proof<\/li>\n\n\n\n<li>Address proof<\/li>\n\n\n\n<li>Salary proof<\/li>\n\n\n\n<li>Income proof<\/li>\n\n\n\n<li>Existing home loan details<\/li>\n\n\n\n<li>Affidavit proving the beneficiary\nfamily does not own a pucca house<\/li>\n\n\n\n<li>Declaration for property under\nconstruction<\/li>\n<\/ul>\n\n\n\n<p><strong>Additional Read<\/strong>:- <a title=\"How to Check Out Your Name Present in Pradhan Mantri Awas Yojana List\" href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/how-to-check-out-your-name-present-in-pradhan-mantri-awas-yojana-list\/\">How to Check Out Your Name Present in Pradhan Mantri Awas Yojana List <\/a><\/p>\n\n\n\n<p>Check your <a href=\"https:\/\/tata-blog.osian.dev\/home-loan\/pmay.html\">PMAY eligibility<\/a> at Tata Capital and calculate your <a title=\"Home Loan Subsidy\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">home loan<\/a> using our PMAY calculator today!<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">Apply For House Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Pradhan Mantri Awas Yojana (PMAY) is a unique initiative by the Indian government to provide affordable housing for everyone by the year 2022.  <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/who-is-eligible-for-getting-pradhan-mantri-awas-yojana-scheme\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":8628,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-8627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Who is Eligible for getting Pradhan Mantri Awas Yojana Scheme<\/title>\n<meta name=\"description\" content=\"PMAY eligibility varies as per an applicant\u2019s category, from EWS to MIG section. Check out your PMAY Eligibility and documents required for availing this home loan subsidy.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who is Eligible for getting Pradhan Mantri Awas Yojana Scheme\" \/>\n<meta property=\"og:description\" content=\"PMAY eligibility varies as per an applicant\u2019s category, from EWS to MIG section. 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