Pradhan Mantri Awas Yojna
The following criteria’s to be considered while availing home loans under the Pradhan Mantri Awas Yojana:
The beneficiary family should not own a pucca house in India.
Definition of beneficiary family: A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughters. An adult earning member (irrespective of marital status) can be treated as a separate household; Provided that he / she does not own a pucca (an all weather dwelling unit) house in his / her name in any part of India.
In case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the Scheme.
Please continue reading to know more about the Pradhan Mantri Awas Yojana eligibility criteria, basis the economic groups:
|Maximum Household income per annum
||Upto Rs. 6 Lakhs
||Rs. 6 Lakhs - Rs. 12 Lakhs
||Rs. 12 Lakhs - Rs. 18 Lakhs
|Maximum Property Area (carpet area)
|Maximum loan amount for subsidy calculation
||Rs. 6 Lakhs
||Rs. 9 Lakhs
||Rs. 12 Lakhs
|Maximum tenure for subsidy calculation
|Interest Subsidy (% p.a.)
||Rs. 2.67 Lakhs
||Rs. 2.35 Lakhs
||Rs. 2.30 Lakhs
|Women ownership on property
|The beneficiary family should not own a pucca house in India
|Housing loan sanction date to be eligible for subsidy
|Discount Rate for Net Percent Value (NPV) calculation of interest subsidy (%)
|Validity of the Scheme
*In EWS /LIG category, the home loans availed for Improvement or extension also are eligible provided the maximum carpet area is 30 sq.mtr and 60 sq.mtr respectively.
** If there is no female member in the family then women ownership not required.