Pradhan Mantri Awas Yojana-Housing for All (Urban)

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About Pradhan Mantri Awas Yojana (PMAY)

The Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) is a scheme launched by our honourable Prime Minister Shri Narendra Modi for the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I) and Middle Income Group-II (MIG-II) of people. Through this scheme, the beneficiary is eligible to avail interest subsidy on the purchase/construction of a house. The scheme is also available for the enhancement of a dwelling unit.

Subsidy Eligibility Criteria:

Maximum Household income per annum Up to ₹ 3 lakhs. Up to ₹ 6 lakhs. ₹ 6 - ₹ 12 Lakhs ₹ 12-₹ 18 Lakhs
Maximum Property Area ( carpet area) 323 sq feet. 645 sq feet. 968 sq feet. 1184 sq feet.
Maximum Loan amount for subsidy calculation ₹ 3 lakhs ₹ 6 lakhs ₹ 9 lakhs ₹ 12 lakhs
Maximum tenure for subsidy calculation 20 years 20 years 20 years 20 years
Interest Subsidy (% p.a.) 6.50% 6.50% 4% 3%
Maximum Subsidy amount ₹ 2.67 lakhs ₹ 2.67 lakhs ₹ 2.35lakhs ₹ 2.30 lakhs
Women ownership on property Yes Yes Not applicable Not applicable
Housing loan sanction date to be eligible for subsidy After 17.06.2015 After 17.06.2015 After 01.01.2017 After 01.01.2017


  • Houshold definition EWS-LIG: A beneficiary family will comprise of husband, wife and unmarried children.
  • Houshold definition MIG-I & II: 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.
  • The applicants should have an Aadhar card copy to be eligible for benefit under MIG scheme
  • Home extension /Repair is included only under EWS-LIG scheme, the area limit will be 30sq.m./323sq.ft and 60sq.m./646sq.ft of built up area for EWS and LIG category respectively.
  • EWS/LIG households are defined as households having an annual income of upto Rs. 3 lacs/ between Rs.3 lacs to Rs.6 lacs respectively.
  • The beneficiary family should not own a pucca house in India


Interest subsidy on housing loan is calculated at applicable rates for PMAY EWG/LIG/MIG I/MIG II schemes respectively for a tenure of 20 years or the tenure of loan, whichever is lower. GOI will retain the supreme right of granting/rejecting the subsidy and Bank will not be held liable for the decisions taken by GOI.

The Bank may use the services of agents for sales, marketing and promotion of the Home Loan product. Contents of this advertisement, products and services offered by Indiabulls Home Loans are subject to applicable laws and regulatory guidelines/ regulations. All loans at the sole discretion of Indiabulls Home Loans. RBI does not keep funds or accounts of any individual/public/trust. Do not be a victim to any such offers coming to you on phone or email in the name of RBI.