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for="menu"></label><div class="fixed top-0 max-w-[320px] w-[calc(100vw-30px)] h-screen transition-[transform 0.35s] z-[12] overflow-y-scroll bg-white peer-checked:right-[0] right-[-320px] transition-all duration-[350ms] ease-right-0"><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":R364l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-credit-card mr-2 h-full"><rect width="20" height="14" x="2" y="5" rx="2"></rect><line x1="2" x2="22" y1="10" y2="10"></line></svg>Credit Cards <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ul class="list-none "><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/credit-card.html" title="Compare Credit cards" aria-label="Compare Credit cards">Compare Credit cards</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/credit-card/best-co-branded-credit-cards-in-india.html" title="Co-branded Credit Cards" aria-label="Co-branded Credit Cards">Co-branded Credit Cards</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/credit-card/rbl-bank-bankbazaar-savemax-credit-card.html" title="RBL SaveMax Credit Card" aria-label="RBL SaveMax Credit Card">RBL SaveMax Credit Card</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/credit-card/finbooster-yes-bank-bankbazaar-co-branded-credit-card.html " title="Yes Bank FinBooster Credit Card" aria-label="Yes Bank FinBooster Credit Card">Yes Bank FinBooster Credit Card</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/hdfc-credit-card.html" title="HDFC Credit Cards" aria-label="HDFC Credit Cards">HDFC Credit Cards</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/sbi-credit-card.html" title="SBI Credit Cards" aria-label="SBI Credit Cards">SBI Credit Cards</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/indusind-credit-card.html" title="Indusind Bank Credit cards" aria-label="Indusind Bank Credit cards">Indusind Bank Credit cards</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/credit-card/top-10-credit-cards-in-india.html" title="Top 10 Credit Cards" aria-label="Top 10 Credit Cards">Top 10 Credit Cards</a></li></ul></div></details></div><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":R564l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-school mr-2 h-full"><path d="M14 22v-4a2 2 0 1 0-4 0v4"></path><path d="m18 10 4 2v8a2 2 0 0 1-2 2H4a2 2 0 0 1-2-2v-8l4-2"></path><path d="M18 5v17"></path><path d="m4 6 8-4 8 4"></path><path d="M6 5v17"></path><circle cx="12" cy="9" r="2"></circle></svg>Home Loans <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide 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class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/home-loan-balance-transfer.html" title="Home Loan Transfer" aria-label="Home Loan Transfer">Home Loan Transfer</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/home-loan/pradhan-mantri-awas-yojana.html" title="PMAY" aria-label="PMAY">PMAY</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/sbi-home-loan.html" title="SBI Home Loan" aria-label="SBI Home Loan">SBI Home Loan</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/hdfc-home-loan.html" title="HDFC Home Loan" aria-label="HDFC Home Loan">HDFC Home Loan</a></li></ul></div></details></div><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":R764l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-indian-rupee mr-2 h-full"><path d="M6 3h12"></path><path d="M6 8h12"></path><path d="m6 13 8.5 8"></path><path d="M6 13h3"></path><path d="M9 13c6.667 0 6.667-10 0-10"></path></svg>Personal Loans <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ul class="list-none "><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/personal-loan.html" title="Compare Personal Loans" aria-label="Compare Personal Loans">Compare Personal Loans</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/personal-loan/emi-calculator.html" title="Personal Loan Calculator" aria-label="Personal Loan Calculator">Personal Loan Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/personal-loan-interest-rate.html" title="Personal Loan Interest Rates" aria-label="Personal Loan Interest Rates">Personal Loan Interest Rates</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/personal-loan-eligibility.html" title="Personal Loan Eligibility" aria-label="Personal Loan Eligibility">Personal Loan Eligibility</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/sbi-personal-loan.html" title="SBI Personal Loan" aria-label="SBI Personal Loan">SBI Personal Loan</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/hdfc-personal-loan.html" title="HDFC Personal Loan" aria-label="HDFC Personal Loan">HDFC Personal Loan</a></li></ul></div></details></div><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":R964l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-indian-rupee mr-2 h-full"><path d="M6 3h12"></path><path d="M6 8h12"></path><path d="m6 13 8.5 8"></path><path d="M6 13h3"></path><path d="M9 13c6.667 0 6.667-10 0-10"></path></svg>Other Loans <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ul class="list-none "><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/car-loan.html" title="Car Loan" aria-label="Car Loan">Car Loan</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/two-wheeler-loan.html" title="Two Wheeler Loan" aria-label="Two Wheeler Loan">Two Wheeler Loan</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/education-loan.html" title="Education Loan" aria-label="Education Loan">Education Loan</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/gold-loan.html" title="Gold Loan" aria-label="Gold Loan">Gold Loan</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/home-loan/loan-against-property.html" title="Loan Against Property" aria-label="Loan Against Property">Loan Against Property</a></li></ul></div></details></div><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":Rb64l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-calculator mr-2 h-full"><rect width="16" height="20" x="4" y="2" rx="2"></rect><line x1="8" x2="16" y1="6" y2="6"></line><line x1="16" x2="16" y1="14" y2="18"></line><path d="M16 10h.01"></path><path d="M12 10h.01"></path><path d="M8 10h.01"></path><path d="M12 14h.01"></path><path d="M8 14h.01"></path><path d="M12 18h.01"></path><path d="M8 18h.01"></path></svg>Calculators <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ul class="list-none "><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/finance-tools/emi-calculator.html" title="EMI Calculator" aria-label="EMI Calculator">EMI Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/home-loan/emi-calculator.html" title="Home Loan EMI Calculator" aria-label="Home Loan EMI Calculator">Home Loan EMI Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/personal-loan/emi-calculator.html" title="Personal Loan EMI Calculator" aria-label="Personal Loan EMI Calculator">Personal Loan EMI Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/car-loan/emi-calculator.html" title="Car Loan EMI Calculator" aria-label="Car Loan EMI Calculator">Car Loan EMI Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/tax/income-tax-calculator.html" title="Income Tax Calculator" aria-label="Income Tax Calculator">Income Tax Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/fixed-deposit/fd-calculator.html" title="FD Calculator" aria-label="FD Calculator">FD Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/recurring-deposit/rd-interest-calculator.html" title="RD Calculator" aria-label="RD Calculator">RD Calculator</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/calculators.html" title="All Financial Calculators" aria-label="All Financial Calculators">All Financial Calculators</a></li></ul></div></details></div><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":Rd64l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-indian-rupee mr-2 h-full"><path d="M6 3h12"></path><path d="M6 8h12"></path><path d="m6 13 8.5 8"></path><path d="M6 13h3"></path><path d="M9 13c6.667 0 6.667-10 0-10"></path></svg>Investments <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ul class="list-none "><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/fixed-deposit-rate.html" title="Fixed Deposit" aria-label="Fixed Deposit">Fixed Deposit</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/recurring-deposit-rates.html" title="Recurring Deposit" aria-label="Recurring Deposit">Recurring Deposit</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/savings-account.html" title="Savings Account" aria-label="Savings Account">Savings Account</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/saving-schemes.html" title="Saving Schemes" aria-label="Saving Schemes">Saving Schemes</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/gold-rate-india.html" title="Gold Rate" aria-label="Gold Rate">Gold Rate</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/silver-rate-india.html" title="Silver Rate" aria-label="Silver Rate">Silver Rate</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/mutual-fund.html" title="Mutual Funds" aria-label="Mutual Funds">Mutual Funds</a></li></ul></div></details></div><span><a href="/credit-score.html" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 minW-auto bg-inherit text-inherit hover:bg-inherit no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 w-full py-4" data-testid="button-"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-wallet-cards mr-2 h-full"><rect width="18" height="18" x="3" y="3" rx="2"></rect><path d="M3 9a2 2 0 0 1 2-2h14a2 2 0 0 1 2 2"></path><path d="M3 11h3c.8 0 1.6.3 2.1.9l1.1.9c1.6 1.6 4.1 1.6 5.7 0l1.1-.9c.5-.5 1.3-.9 2.1-.9H21"></path></svg><span class="flex-auto "><strong><p class="text-sm ">Credit Score</p></strong></span><img src="https://www.bankbazaar.com/images/common/bbicons-menu-free-badge.webp" alt="FREE" title="FREE" width="40" height="20" style="max-width:100%;display:inline"/></a></span><div class="border bg-transparent hover:bg-transparent text-sm" data-testid="accordion-"><details name=":Rh64l:" class="px-4 py-4"><summary class="cursor-pointer block relative"><strong><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-file-text mr-2 h-full"><path d="M15 2H6a2 2 0 0 0-2 2v16a2 2 0 0 0 2 2h12a2 2 0 0 0 2-2V7Z"></path><path d="M14 2v4a2 2 0 0 0 2 2h4"></path><path d="M10 9H8"></path><path d="M16 13H8"></path><path d="M16 17H8"></path></svg>Govt. Utility Documents <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ul class="list-none "><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/pan-card.html" title="Pan Card" aria-label="Pan Card">Pan Card</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/aadhar-card.html" title="Aadhaar Card" aria-label="Aadhaar Card">Aadhaar Card</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " href="/voter-id.html" title="Voter ID" aria-label="Voter ID">Voter ID</a></li><li class="text-sm ml-6 pt-1 pb-1"><a class="inline-flex hover:underline no-underline " 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class="[&>svg]:size-3.5"><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-right"><path d="m9 18 6-6-6-6"></path></svg></li><li class="inline-flex items-center gap-1.5"><span role="link" aria-disabled="true" aria-current="page" class="text-slate-950 dark:text-slate-50 font-bold">PMAY</span></li></ol></nav><script type="application/ld+json" data-testid="breadcrumb-json-ld">{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://www.bankbazaar.com/"},{"@type":"ListItem","position":2,"name":"Home Loan","item":"https://www.bankbazaar.com/home-loan.html"},{"@type":"ListItem","position":3,"name":"PMAY"}]}</script></div><div class="flex flex-col gap-2.5 px-0"><div class="container mx-auto px-4"><div class="items-center flex gap-2.5"><h1 class="text-xl font-bold ">Pradhan Mantri Awas Yojana - Urban - PMAY(U)</h1></div></div><div class="container mx-auto px-4"><div class="flex flex-col gap-2.5 px-0"><div class="rounded-lg border border-slate-200 text-slate-950 shadow-sm dark:border-slate-800 dark:bg-slate-950 dark:text-slate-50 relative bg-primary-light" data-testid="card-"><div class="p-2.5"><div class="pr-md font-large bb-top-content" style="max-height:500px;overflow-y:auto"><p class="text-base ">The Ministry of Housing and Urban Affairs (MoHUA) introduced the <strong>Pradhan Mantri Awas Yojana – Urban (PMAY-U)</strong> on June 25, 2015. The PMAY scheme aims to provide affordable housing to all eligible urban households.</p><p class="text-base ">The initiative aims to provide a pucca house to all eligible urban households by 2022 in order to address the lack of urban housing among the EWS/LIG and MIG categories, which includes those living in slums. The Union Cabinet has decided to extend <strong>PMAY(U)</strong><strong>till 31 December 2024</strong>. </p></div></div></div><div id="HUNGRY_FOR_MORE"><div class="mb-xl"><span style="background-color:#ffff009c" class="mb-xl">Updated On - 21 Feb 2025</span></div><div class="flex flex-col gap-1"><div class="mb-2.5"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771"><img src="https://static.bankbazaar.com/images/credit-core-asvg.svg" alt="Check Free credit Score Now" title="Check Free credit Score Now" width="230" height="50" loading="lazy" style="max-width:100%;display:block;margin:0 auto"/></a></div><h2 class="text-lg font-bold pt-5">Benefits of PMAY Urban Scheme:</h2><p class="text-base ">Some of the main benefits of the PMAY Urban scheme are mentioned below:</p><div class="mb-2.5"><img src="https://static.bankbazaar.com/images/india/infographic/pradhan-mantri-awas-yojana.webp" alt="PMAY" title="PM Awas Yojana" width="400" height="200" loading="lazy" style="max-width:100%;display:block;float:left;margin:0 auto"/></div><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Subsidized Interest Rate</strong> - Enjoy a low 6.50% p.a. interest rate on housing loans for 20 years.</li></ol></div><div><div class="flex flex-col gap-1"><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Priority for Special Groups</strong> - Differently-abled and senior citizens receive preferential ground floor allocations.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Eco-Friendly Construction</strong> - Sustainable and environmentally conscious technologies utilized in building.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>PAN-India Coverage</strong> - The scheme spans 4041 statutory towns, with initial priority given to 500 Class I cities in 3 phases.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Early Credit-Linked Subsidy </strong>- Implementation of the credit-linked subsidy begins at the project's inception, covering all statutory towns in India.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Women Beneficiaries:</strong> Preference in given to women beneficiaries.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Direct Benefit Transfer:</strong> Under PMAY-U, financial assistance is provided via DBT. Therefore, fraud is reduced and funds will be transferred to the beneficiary.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Ownership Title: </strong>The beneficiary will be the legal owner of the property.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Reduction in Slums</strong>: Slum dwellers will be provided alternate housing. This will reduce congestion and improve living conditions.</li></ol><div class="mb-2.5"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771"><img src="https://static.bankbazaar.com/images/credit-core-asvg.svg" alt="Check Free credit Score Now" title="Check Free credit Score Now" width="230" height="50" loading="lazy" style="max-width:100%;display:block;margin:0 auto"/></a></div><div class="px-0"><a href="/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HL_CONTEXT&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HL_CONTEXT"><img src="https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg" alt="Credit score" width="950" height="120" style="max-width:100%;display:inline" fetchPriority="high"/></a></div><h2 class="text-lg font-bold pt-5">Highlights of PMAY-U</h2><div class="relative w-full"><table class="w-full caption-bottom text-sm border" data-testid="table-"><tbody class="[&_tr:last-child]:border-0"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Official Website</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base "><a href="https://pmaymis.gov.in/" target="_blank" rel="nofollow">https://pmaymis.gov.in/</a></p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Launch Date</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">25th June 2015</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Expected Completion</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">By 31 December 2024</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Toll Free Number</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">1800-11-6163 - HUDCO 1800 11 3377, 1800 11 3388 - NHB</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Complaints or Suggestion</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base "><a href="mailto:grievance-pmay@gov.in" target="_blank">grievance-pmay@gov.in</a></p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Office Address</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Pradhan Mantri Awas Yojana Ministry of Housing and Urban Affairs Nirman Bhawan, New Delhi- 110 011 Contact: 011 2306 3285, 011 2306 0484 Email: pmaymis-mhupa@gov.in</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 bg-secondary text-secondary-foreground border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">PMAY Guidelines</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base "><a href="http://pmaymis.gov.in/PDF/HFA_Guidelines/hfa_Guidelines.pdf" target="_blank" rel="nofollow">Click to Download Manual</a></p></td></tr></tbody></table></div><div class="text-center mt-2 mb-2"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_70771" target="_blank" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 py-2 minW-auto no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 bg-destructive text-destructive-foreground hover:bg-destructive-300" data-testid="button-" title="Check FREE Credit Score">Check FREE Credit Score  </a></div><h2 class="text-lg font-bold pt-5">Pradhan Mantri Awas Yojana Beneficiaries (PMAY) </h2><p class="text-base ">The beneficiaries under the PMAY scheme can be listed as follows:</p><div class="relative w-full"><table class="w-full caption-bottom text-sm border" data-testid="table-"><thead class="[&_tr]:border-b font-bold"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Beneficiary</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Annual Income</p></td></tr></thead><tbody class="[&_tr:last-child]:border-0"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Middle Income Group I (MIG I)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.6 lakh to Rs.12 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Middle Income Group I (MIG II</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.12 lakh to Rs.18 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Lower Income Group (LIG)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.3 lakh to Rs.6 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Economically Weaker Section (EWS)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to Rs.3 lakh</p></td></tr></tbody></table></div><div class="mb-2.5"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771"><img src="https://static.bankbazaar.com/images/credit-core-asvg.svg" alt="Check Free credit Score Now" title="Check Free credit Score Now" width="230" height="50" loading="lazy" style="max-width:100%;display:block;margin:0 auto"/></a></div><p class="text-base ">In addition to these, people belonging to SC, ST, and OBC categories and women belonging to EWS and LIG income groups will also be eligible for the PMAY scheme.</p><p class="text-base "><strong>Identification and Selection of Beneficiaries under PMAY</strong></p><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>The Pradhan Mantri Awas Yojana (PMAY-Urban) </strong>- Urban schemes primarily target the housing needs of urban poor. Apart from this, the scheme also addresses the housing needs of slum residents living in narrow pockets of slums where infrastructure, sanitation and drinking water are poor. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Beneficiaries of PM </strong><strong>housing scheme </strong><strong>PM housing scheme</strong> mainly include Middle Income Groups (MIGs), Low-income Groups (LIGs), and Economically Weaker Section (EWS). </li></ol><p class="text-base ">While the beneficiaries from the EWS category are eligible for complete assistance under the scheme, beneficiaries from LIG and LIG categories are only eligible for the <a href="https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojna-credit-linked-subsidy-scheme.html" target="_blank">Credit Linked Subsidy Scheme (CLSS)</a> under PMAY.</p><p class="text-base ">In order to be recognised as a LIG or EWS beneficiary under the Scheme, the applicant is required to submit an affidavit as income proof to the authority.</p><h2 class="text-lg font-bold pt-5">Key Highlights of PMAY Scheme</h2><div class="relative w-full"><table class="w-full caption-bottom text-sm border" data-testid="table-"><thead class="[&_tr]:border-b font-bold"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Particulars</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">EWS</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">LIG</p></td></tr></thead><tbody class="[&_tr:last-child]:border-0"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Eligible Housing Loan Amount</p><p class="text-base ">for Interest Subsidy</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to Rs.6 lakh</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to Rs.6 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Maximum Loan Tenure</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">20 years</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">20 years</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Discounted Rate for Calculation</p><p class="text-base ">of Net Present Value of Interest</p><p class="text-base ">Subsidy</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">9.00%</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">9.00%</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Dwelling Unit Carpet Area</p><p class="text-base ">(sq.m.)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to 30 sq.m.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to 60 sq.m.</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Duration of Scheme</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">17 June 2015 to 31 December 2024</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">17 June 2015 to 31 December 2024</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Applicability of No Pucca House</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Not for upgradation or renovation</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Woman Ownership/Co-</p><p class="text-base ">ownership</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Not required for an existing property. Compulsory for a new acquisition.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Amount Paid in Lump Payment</p><p class="text-base ">for Each Sanctioned Housing</p><p class="text-base ">Loan application</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.3,000</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.3,000</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Quality of Flat/House</p><p class="text-base ">Construction</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">BIS Codes, National Building Code, and according to the NDMA Guidelines adopted</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Approvals for the Building</p><p class="text-base ">Design</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Basic Civic Infrastructure (water,</p><p class="text-base ">electricity, sanitation, sewerage,</p><p class="text-base ">road etc.)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Maximum Interest Subsidy</p><p class="text-base ">Amount</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.2,67,280</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.2,67,280</p></td></tr></tbody></table></div><div class="text-center mt-2 mb-2"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_70771" target="_blank" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 py-2 minW-auto no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 bg-destructive text-destructive-foreground hover:bg-destructive-300" data-testid="button-" title="Know your Credit Score for Free">Know your Credit Score for Free  </a></div><div class="px-0"><a href="/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HL_CONTEXT&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HL_CONTEXT"><img src="https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg" alt="Credit score" width="950" height="120" style="max-width:100%;display:inline" fetchPriority="high"/></a></div><h2 class="text-lg font-bold pt-5">Key Parameters of PMAY</h2><div class="relative w-full"><table class="w-full caption-bottom text-sm border" data-testid="table-"><thead class="[&_tr]:border-b font-bold"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base "><strong>Particulars</strong></p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base "><strong>MIG I</strong></p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base "><strong>MIG II</strong></p></td></tr></thead><tbody class="[&_tr:last-child]:border-0"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Eligible Housing Loan Amount</p><p class="text-base ">for Interest Subsidy</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to Rs.9 lakh</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Up to Rs.12 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Maximum Loan Tenure</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">20 years</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">20 years</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Dwelling Unit Carpet Area</p><p class="text-base ">(sq.m.)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">160 sq.m.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">200 sq.m</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Maximum Interest Subsidy Amount</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.2,35,068</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.2,30,156</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Lump Sum Amount Paid for</p><p class="text-base ">Each Sanctioned Housing Loan</p><p class="text-base ">Application Instead of</p><p class="text-base ">processing fee</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.2,000</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.2,000</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Discounted Rate for Calculation</p><p class="text-base ">of Net Present Value of Interest</p><p class="text-base ">Subsidy</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">9.00%</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">9.00%</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Duration of Scheme</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">1 January 2017 to 31 December 2024</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">1 January 2017 to 31 December 2024</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Woman Ownership/Co-</p><p class="text-base ">ownership</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Not compulsory</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Not compulsory</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Applicability of No Pucca House</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Yes</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Yes</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Approvals for the Building</p><p class="text-base ">Design</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Quality of House/Flat</p><p class="text-base ">Construction</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">BIS Codes, National Building Code, and according to the NDMA Guidelines adopted</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Basic Civic Infrastructure (water,</p><p class="text-base ">road, sanitation, sewerage,</p><p class="text-base ">electricity etc.)</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Mandatory</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Income Proof to Claim Subsidy</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Self-Declaration</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Self-Declaration</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Identity Proof</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Aadhaar Card Number</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Aadhaar Card Number</p></td></tr></tbody></table></div><div class="mb-2.5"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771"><img src="https://static.bankbazaar.com/images/credit-core-asvg.svg" alt="Check Free credit Score Now" title="Check Free credit Score Now" width="230" height="50" loading="lazy" style="max-width:100%;display:block;margin:0 auto"/></a></div><h2 class="text-lg font-bold pt-5">Types of PMAY Scheme</h2><p class="text-base ">There are two sub-sections of the PMAY scheme which are divided on the basis of the area on which they focus:</p><ul class="list-decimal list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Pradhan Mantri Awas Yojana Gramin</strong> - The Pradhan Mantri Awas Yojana – Gramin (<a href="https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana-gramin.html" target="_blank">PMAY-G</a>) was previously known as the Indira Awas Yojana and was christened as PMAY-G in 2016. The scheme is aimed at the provision of affordable and accessible housing units to eligible beneficiaries in rural regions of India (excluding Chandigarh and Delhi) Under this scheme, the Government of India and the respective state governments share the cost of development of housing units in the ratio of 60:40 for plain regions and 90:10 for North-Eastern and hilly regions.</li><li class="pt-1 pb-1"><strong>Pradhan Mantri Awas Yojana Urban</strong> - The Pradhan Mantri Awas Yojana – Urban (PMAYU), as the name suggests, is focussed towards the urban areas in India. At present, there 4,331 towns and cities which are enlisted under this scheme. The scheme is set to function under three different phases:</li></ul><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Phase 1: </strong>Under Phase 1, the government targeted to cover 100 cities in different states and UTs across the country from April 2015 to March 2017.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Phase 2:</strong> Under Phase 2, the government targeted to cover 200 more cities in different states and UTs across the country from April 2017 to March 2019.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>Phase 3:</strong> Under Phase 3, the government targeted to cover the cities which have been left out in Phase 1 and Phase 2 and attain the target by the end of December 2024.</li></ol><h2 class="text-lg font-bold pt-5">PMAY Interest Subsidy</h2><div class="relative w-full"><table class="w-full caption-bottom text-sm border" data-testid="table-"><thead class="[&_tr]:border-b font-bold"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base "><strong>Particulars</strong></p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base "><strong>Interest Subsidy</strong></p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base "><strong>Maximum Loan for Subsidy</strong></p></td></tr></thead><tbody class="[&_tr:last-child]:border-0"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">EWS</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">6.50% p.a.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.6 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">LIG</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">6.50% p.a.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.6 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">MIG -1</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">4.00% p.a.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.9 lakh</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">MIG-2</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">3.00% p.a.</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Rs.12 lakh</p></td></tr></tbody></table></div><div class="px-0"><a href="/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HL_CONTEXT&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HL_CONTEXT"><img src="https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg" alt="Credit score" width="950" height="120" style="max-width:100%;display:inline" fetchPriority="high"/></a></div><h3 class="text-md font-bold pt-5">Pradhan Mantri Awas Yojana (PMAY) Subsidy Calculator</h3><p class="text-base "><strong>Pradhan Mantri Awas Yojana (PMAY)</strong> scheme aims to simplify the process of purchasing a home for the urban poor and weaker sections of society through EMIs at reasonable rates of interest. The rate of interest is comparatively much lesser than commercial rates, thus offering people subsidised loans.</p><p class="text-base ">To calculate the <a href="https://www.bankbazaar.com/home-loan/emi-calculator.html" target="_blank">EMI</a>, log on to the Pradhan Mantri Awas Yojana website and fill in the following details: <a href="http://pmaymis.gov.in/EMI_Calculator.aspx" target="_blank" rel="nofollow">http://pmaymis.gov.in/EMI_Calculator.aspx</a></p><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">The total loan amount in rupees</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">The rate of interest</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">The total loan period in months</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Once the following details are submitted, click on the ‘Calculate’ option. This will give you the monthly installment or EMI payable in rupees. </li></ol><h3 class="text-md font-bold pt-5">How to Get PMAY Interest Subsidy? </h3><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/home-loan.html" target="_blank">Apply for a home loan</a> from any listed lending institution asking for subsidy.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">The lending institution will review your application and you are eligible, your application will be sent to the Central Nodal Agency.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Upon verification, if your application is approved and no discrepancies are found, the Central Nodal Agency will disburse the subsidy amount to the lending institution.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">This amount will be credited to your account by the lending institution which will lower your total loan amount.</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">You can continue paying the EMIs towards the balance loan amount.</li></ol><h3 class="text-md font-bold pt-5">How to transfer PMAY Subsidy to the Borrower's Bank?</h3><p class="text-base ">The bank from where the individual is taking the loan will claim the subsidy benefit for the eligible applicants from the National Housing Bank (NHB). The National Housing Bank will then check to investigate whether anyone is making multiple applications under the scheme.</p><p class="text-base ">Once confirmed, the CLSS or subsidy amount will be given to the borrower's Bank. Once the amount is received, the money will be credited directly to the Loan Account.</p><div class="text-center px-2.5 py-1">Check <a href="/home-loan/subsidy-on-home-loan.html" target="_blank" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 py-2 minW-auto no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 bg-destructive text-destructive-foreground hover:bg-destructive-300" data-testid="button-" title="Understand Subsidy on Home Loan">Understand Subsidy on Home Loan  </a> </div><div class="px-0"><a href="/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HL_CONTEXT&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HL_CONTEXT"><img src="https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg" alt="Credit score" width="950" height="120" style="max-width:100%;display:inline" fetchPriority="high"/></a></div><h2 class="text-lg font-bold pt-5">PMAY Loan Eligibility</h2><p class="text-base ">The PMAY beneficiaries will be selected on the basis of the ‘The Socio economic and caste Census 2011’. The government will consult the panchayat and the tehsil before finalising the PMAY beneficiaries list. This will be done to ensure transparency in the project and to ensure that only the right people get the housing.</p><p class="text-base "> <strong>Learn more about the</strong> <a href="https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana-eligibility-criteria.html" target="_blank">PMAY Eligibility</a>. </p><h2 class="text-lg font-bold pt-5">How to Apply for the PM Awas Yojana Online? </h2><p class="text-base ">You can <a href="https://www.bankbazaar.com/home-loan/how-to-apply-pradhan-mantri-awas-yojana.html" target="_blank">apply for PM Awas Yojana (PMAY)</a> through the PMAY portal. The PMAY application process is very straightforward and easy to use. All you need to do is enter your Aadhaar number. Follow the on-screen instructions and complete and submit the PMAY application form. </p><div class="mb-2.5"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771"><img src="https://static.bankbazaar.com/images/credit-core-asvg.svg" alt="Check Free credit Score Now" title="Check Free credit Score Now" width="230" height="50" loading="lazy" style="max-width:100%;display:block;margin:0 auto"/></a></div><h3 class="text-md font-bold pt-5">Urban PMAY </h3><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Visit the official PMAY portal. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Click on the <strong>‘Citizen Assessment’</strong> option or the<strong> ‘Apply Online’</strong> option. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Depending on your income group choose EWS/LIG/MIG. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Enter all the requested details such as your personal information, Aadhaar number, income details, etc. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Submit your application. </li></ol><p class="text-base ">Your application will be verified by the concerned authority. You can visit the PMAY portal to track the status of your application. </p><h3 class="text-md font-bold pt-5">Rural PMAY </h3><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Visit the official website of PMAY Gramin. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">On the main page, click on the ‘IAY/PMAYG’ option. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Enter all the requested details such as your personal information, Aadhaar number, and bank account details. </li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Submit your application. </li></ol><p class="text-base ">Your application will be verified by the concerned authority. You can visit the PMAY portal to track the status of your application. </p><div class="text-center mt-2 mb-2"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_70771" target="_blank" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 py-2 minW-auto no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 bg-destructive text-destructive-foreground hover:bg-destructive-300" data-testid="button-" title="Know your Credit Score for Free">Know your Credit Score for Free  </a></div><h3 class="text-md font-bold pt-5">How to check PMAY Application Status? </h3><p class="text-base ">To check the status of your PMAY application, you can simply log in to the official portal of <strong>Pradhan Mantri Awas Yojana </strong>at <strong>https://pmaymis.gov.in</strong>. After that, you can just navigate to the tracking option and follow the on-screen directions to check the status of your application.</p><p class="text-base "><strong>How to Edit Your Details After Submitting Application for PMAY</strong></p><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Visit the official website of Pradhan Mantri Awas Yojana</li><li class="pt-1 pb-1">Enter your application reference number and your Aadhaar details</li><li class="pt-1 pb-1">Click on the “<strong>Edit</strong>” option</li><li class="pt-1 pb-1">You will now be allowed to edit your application details</li><li class="pt-1 pb-1">PMAY Resource: PMAY Online Application Form</li></ol><h3 class="text-md font-bold pt-5">Phases of Pradhan Mantri Awas Yojana (PMAY)</h3><p class="text-base "><strong>The PMAY Scheme will be executed in three phases. Refer to the table below for more details:</strong></p><div class="relative w-full"><table class="w-full caption-bottom text-sm border" data-testid="table-"><thead class="[&_tr]:border-b font-bold"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Stage</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Phase 1</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Phase 2</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l bg-secondary hover:bg-secondary text-white p-2" colSpan="1"><p class="text-base ">Phase 3</p></td></tr></thead><tbody class="[&_tr:last-child]:border-0"><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Start date</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">04/01/15</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">04/01/17</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">04/01/19</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">End date</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">03/01/17</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">03/01/19</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">03/01/22</p></td></tr><tr class="border-b transition-colors data-[state=selected]:bg-slate-100 dark:hover:bg-slate-800/50 dark:data-[state=selected]:bg-slate-800 hover:bg-inherit even:bg-gray-100 hover:even:bg-gray-100"><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Cities covered</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">100</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">200</p></td><td class="align-middle [&:has([role=checkbox])]:pr-0 border-l p-2" colSpan="1" rowSpan="1"><p class="text-base ">Remaining cities</p></td></tr></tbody></table></div><p class="text-base "><strong>PMAY Functions of Technology Sub-Mission</strong></p><p class="text-base ">PM Awas Yojana Technology Sub Mission will cover following:</p><ul class="list-decimal list-outside ml-4 mr-4 "><li class="pt-1 pb-1">Better Habitat Designing & Planning of the Buildings </li><li class="pt-1 pb-1">Planning to Develop Environment Friendly Houses</li><li class="pt-1 pb-1">Best Construction Practices</li><li class="pt-1 pb-1">Arranging the Most Innovative Technologies</li><li class="pt-1 pb-1">Picking the Most Suitable Materials</li></ul><h3 class="text-md font-bold pt-5">PMAY Customer Care Helpline Numbers</h3><p class="text-base ">In case of any queries relating to the application process, interest rates and any other scheme related queries, customers can contact the toll free helpline number:</p><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">1800-11-6163 (Urban, HUDCO)</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">1800-11-3388 (Urban,NHB)</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">1800-11-3377 (Urban,NHB)</li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1">1800-11-6446 (Gramin)</li></ol><p class="text-base ">Those facing any issues related to the application process can contact the above<strong> toll-free numbers</strong> according to the locations.</p><div class="text-center mt-2 mb-2"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_70771" target="_blank" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 py-2 minW-auto no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 bg-destructive text-destructive-foreground hover:bg-destructive-300" data-testid="button-" title="Check Your Credit Score Now">Check Your Credit Score Now  </a></div><h3 class="text-md font-bold pt-5">Top 10 Banks offering Home Loans Under PMAY Scheme</h3><p class="text-base ">Top 10 banks in India which offer loans under the PMAY scheme are listed below:</p><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/bank-of-baroda-home-loan.html" target="_blank">Bank of Baroda</a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/sbi-home-loan.html" target="_blank">State Bank of India</a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/axis-home-loan.html" target="_blank">Axis Bank </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/home-loan/idfc-bank-home-loan.html" target="_blank">IDFC First Bank </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/bandhan-bank-home-loan.html" target="_blank">Bandhan Bank </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/bank-of-india-home-loan.html" target="_blank">Bank of India </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/hdfc-home-loan.html" target="_blank">HDFC Bank </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/idbi-home-loan.html" target="_blank">IDBI Bank </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/punjab-national-bank-home-loan.html" target="_blank">Punjab National Bank </a></li></ol><ol class="list-disc list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><a href="/canara-bank-home-loan.html" target="_blank">Canara Bank</a></li></ol><div id="sticky-ELIG_TOP_HL" style="position:fixed;left:0;width:100%;top:0;box-shadow:0 1px 2px 0 #c5c5c5;z-index:11;visibility:hidden"><div class="rounded-lg border border-slate-200 bg-white text-slate-950 shadow-sm dark:border-slate-800 dark:bg-slate-950 dark:text-slate-50 relative" data-testid="card-"><div class="p-2.5"><div class="container mx-auto px-4"><div class="grid grid-cols-12 items-center"><div class=" col-span-2"><img src="https://www.bankbazaar.com/images/bankbazaar-logo-v1.png" alt="bankbazaar" width="180" height="42" style="max-width:100%;display:inline"/></div><div class="text-center col-span-7"> A good credit score can help you secure lower interest rates on loans and credit cards.</div><div class="text-end col-span-2"><a href="https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_HL_TOP_STICKY_DESKTOP&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_HL_TOP_STICKY_DESKTOP" class="inline-flex items-center justify-center whitespace-nowrap rounded-md text-sm ring-offset-white transition-colors focus-visible:outline-none focus-visible:ring-slate-950 disabled:pointer-events-none disabled:opacity-50 dark:ring-offset-slate-950 dark:focus-visible:ring-slate-300 dark:bg-slate-50 dark:text-slate-900 dark:hover:bg-slate-50/90 px-4 py-2 minW-auto no-underline h-auto text-wrap font-medium focus-visible:ring-0 focus-visible:ring-offset-0 bg-primary text-primary-foreground hover:bg-primary-300" data-testid="button-">Get Free Credit Score  </a></div><div class="text-end col-span-1"><img src="https://static.bankbazaar.com/images/india/infographic/credit-score-top-sticky.svg" style="max-width:100%;display:inline"/></div></div></div></div></div><script> window.addEventListener("load", () => { const sticky = {"type":"STICKY","templateProps":{"imageUrl":"https://static.bankbazaar.com/images/india/infographic/credit-score-top-sticky.svg","message":"A good credit score can help you secure lower interest rates on loans and credit cards.","ctaText":"Get Free Credit Score","primaryUrl":"https://www.bankbazaar.com/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_HL_TOP_STICKY_DESKTOP&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_HL_TOP_STICKY_DESKTOP","imageWidth":66,"imageHeight":66,"imageAlt":"Free Credit Score"},"trigger":{"shouldHideOffTrigger":true,"element":"HUNGRY_FOR_MORE","event":"SCROLL"},"position":"TOP","template":"SINGLE_BUTTON_WITH_IMAGE","name":"ELIG_TOP_HL"}; initializeStickyVisibilityListeners('sticky-ELIG_TOP_HL', sticky); }); </script></div><div id="sticky-ELIG_RIGHT_HL" style="position:fixed;top:360px;right:0;visibility:hidden"><div class="text-center px-0"><div style="position:relative"><a href="/home-loan.html?variant=slide&amp;utm_source=bb&amp;utm_medium=seo&amp;utm_campaign=BB_sticky_floater"><img src="https://static.bankbazaar.com/images/interstitials/desktop-hl-check-eligibility.png" alt="Check your Eligibility" width="213" height="62" style="max-width:100%;display:inline;cursor:pointer"/></a></div></div><script> window.addEventListener("load", () => { const sticky = {"template":"IMAGE","position":"RIGHT","trigger":{"event":"SCROLL","element":"HUNGRY_FOR_MORE","shouldHideOffTrigger":true},"templateProps":{"imageHeight":62,"imageWidth":213,"imageAlt":"Check your Eligibility","primaryUrl":"/home-loan.html?variant=slide&utm_source=bb&utm_medium=seo&utm_campaign=BB_sticky_floater","imageUrl":"https://static.bankbazaar.com/images/interstitials/desktop-hl-check-eligibility.png"},"type":"STICKY","name":"ELIG_RIGHT_HL"}; initializeStickyVisibilityListeners('sticky-ELIG_RIGHT_HL', sticky); }); </script></div></div><h2 class="text-lg font-bold pt-4">FAQs on Pradhan Mantri Awas Yojana – Urban 2024</h2><ul class="list-decimal list-outside ml-4 mr-4 "><li class="pt-1 pb-1"><strong>How much time does it take to get the subsidy amount from PMAY?</strong><p class="text-base ">It usually takes around 3 to 4 months for the subsidy amount from PMAY to be credited to the beneficiary. This is subject to the verification process of the government.</p></li><li class="pt-1 pb-1"><strong>How to get the Assessment ID for PMAY?</strong><p class="text-base ">The Assessment ID for PMAY is generated by the PMAY portal after an applicant successfully completes the registration process. This ID can be used to track the status of the application as well.</p></li><li class="pt-1 pb-1"><strong>If I am a woman can I apply for this scheme?</strong><p class="text-base ">Yes, this scheme gives priority to women who are running a family within the lower income groups. However, if your husband, father or any other family member that you reside with has applied, your application will be rejected.</p></li><li class="pt-1 pb-1"><strong>I am a senior citizen and fall under the local income groups? While the PMAY scheme seems financially viable, as an elderly person I would prefer a housing in the Ground Floor. What should I do?</strong><p class="text-base ">You simply need to apply as a senior citizen, since all senior citizens are provided the priority for having access to Ground floor housing. However, ensure that you apply early since the priorities among senior citizens for ground floor is also shared with differently abled beneficiaries as well.</p></li><li class="pt-1 pb-1"><strong>How long will the PMAY project last?</strong><p class="text-base ">The PMAY project is supposed to last until 2024. But this is the date, which ensures that all the regions in India have beneficiaries, who can avail the scheme. The construction and ultimately the beneficiaries moving in may take longer.</p></li><li class="pt-1 pb-1"><strong>What is the maximum annual income should I have to be eligible for PMAY?</strong><p class="text-base ">Your annual income should not be more than Rs. 18 lakh. However, there are no lower limits for the PMAY income requirement.</p></li><li class="pt-1 pb-1"><strong>What is a Central Nodal Agency when we are talking about PMAY?</strong><p class="text-base ">These are basically nodal agencies that are identified by the Ministry or Government to function as bodies which implement the Credit linked subsidy.</p></li><li class="pt-1 pb-1"><strong>What does one mean, by carpet area in lieu with Pradhan Mantri Awas Yojana?</strong><p class="text-base ">Area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls.</p></li><li class="pt-1 pb-1"><strong>What is TDR or Transfer of Development Rights?</strong><p class="text-base ">This term simply ensures the availability of a particular amount that is additional on the built up with respect to the surrendered or relinquished area of land which allows the owner to use an added built-up area for himself/herself in some other land.</p></li><li class="pt-1 pb-1"><strong>Can I apply if I do not have an Aadhaar Card?</strong><p class="text-base ">In order to apply online, it is mandatory for all citizens to have an Aadhaar Card. It is advised to get your Aadhar Number from the nearest Common Service Centers (CSC) as soon as possible.</p></li><li class="pt-1 pb-1"><strong>Do I have to pay for the registration?</strong><p class="text-base ">You will only have to pay an application fee of Rs.25 plus service tax at the Common Service Centres. However, there are no charges levied if you are applying online.</p></li></ul><script type="application/ld+json" data-testid="faq-json-ld">{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"How much time does it take to get the subsidy amount from PMAY?","acceptedAnswer":{"@type":"Answer","text":"It usually takes around 3 to 4 months for the subsidy amount from PMAY to be credited to the beneficiary. This is subject to the verification process of the government."}},{"@type":"Question","name":"How to get the Assessment ID for PMAY?","acceptedAnswer":{"@type":"Answer","text":"The Assessment ID for PMAY is generated by the PMAY portal after an applicant successfully completes the registration process. 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However, there are no charges levied if you are applying online."}}]}</script><h2 class="text-lg font-bold pt-2 pb-2">News about PMAY</h2><div class="flex flex-col gap-2.5"><div class="mb-xl"><div class="rounded-lg border border-slate-200 bg-white text-slate-950 shadow-sm dark:border-slate-800 dark:bg-slate-950 dark:text-slate-50 relative" data-testid="card-"><div class="flex flex-col space-y-1.5 p-4 bg-secondary text-secondary-foreground"><h3 class="font-semibold tracking-tight text-md text-bold">Union Budget 2024: Investment of Rs.10 lakh crore under PM Awas Yojana </h3></div><div class="p-2.5"><p class="text-base "> Investment of Rs.10 lakh crore will cater one crore urban poor under the PM Awaas Yojana – Urban 2.0 and will provide central assistance of Rs.2.20 lakh crore over next five years. </p><div class="text-end px-2.5 py-1">23 July 2024</div></div></div></div><div class="mb-xl"><div class="rounded-lg border border-slate-200 bg-white text-slate-950 shadow-sm dark:border-slate-800 dark:bg-slate-950 dark:text-slate-50 relative" data-testid="card-"><div class="flex flex-col space-y-1.5 p-4 bg-secondary text-secondary-foreground"><h3 class="font-semibold tracking-tight text-md text-bold">Number of houses allocated under PMAY is expected to rise </h3></div><div class="p-2.5"><p class="text-base ">Affordable housing is likely to get a boost with predictions of more funding through the Pradhan Mantri Awas Yojana (PMAY) and housing loan subsidies in Budget 2025. If these plans are realized, it could boost the housing finance sector and increase investor interest in related stocks. </p><p class="text-base ">Since the election results were announced on June 4, housing finance companies have seen a significant increase in their stock prices. Companies like LIC Housing Finance, Can Fin Homes, HUDCO, PNB Housing Finance, Home First, Aptus Value Housing, and Aavas Financiers have seen their shares rise by 46 percent, outpacing the Nifty 50's 12% increase. </p><div class="text-end px-2.5 py-1">19 July 2024</div></div></div></div></div><div class="flex flex-col gap-4 pt-4"><div class="grid grid-cols-12 gap-5"><div class=" col-span-4"><div class="border bg-transparent hover:bg-transparent" data-testid="accordion-"><details name=":Rakqcl:" class="px-2.5 py-2.5"><summary class="cursor-pointer block relative"><strong>Home Loans by Banks <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ol class="list-disc list-outside ml-4 mr-4 "><li class=""><a class="inline-flex hover:underline no-underline " href="/sbi-home-loan.html" title="SBI Home Loan" target="_blank" aria-label="SBI Home Loan">SBI Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/axis-home-loan.html" title="Axis Home Loan" target="_blank" aria-label="Axis Home Loan">Axis Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/hdfc-home-loan.html" title="HDFC Home Loan" target="_blank" aria-label="HDFC Home Loan">HDFC Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/canara-bank-home-loan.html" title="Canara Home Loan" target="_blank" aria-label="Canara Home Loan">Canara Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/punjab-national-bank-home-loan.html" title="PNB Home Loan" target="_blank" aria-label="PNB Home Loan">PNB Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/idbi-home-loan.html" title="IDBI Home Loan" target="_blank" aria-label="IDBI Home Loan">IDBI Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/kotak-home-loan.html" title="Kotak Home Loan" target="_blank" aria-label="Kotak Home Loan">Kotak Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/iob-home-loan.html" title="IOB Home Loan" target="_blank" aria-label="IOB Home Loan">IOB Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/yes-bank-home-loan.html" title="YES Bank Home Loan" target="_blank" aria-label="YES Bank Home Loan">YES Bank Home Loan</a></li></ol></div></details></div></div><div class=" col-span-4"><div class="border bg-transparent hover:bg-transparent" data-testid="accordion-"><details name=":Rikqcl:" class="px-2.5 py-2.5"><summary class="cursor-pointer block relative"><strong>Home Loans by NBFC <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ol class="list-disc list-outside ml-4 mr-4 "><li class=""><a class="inline-flex hover:underline no-underline " href="/lic-home-loan.html" title="LIC Home Loan" target="_blank" aria-label="LIC Home Loan">LIC Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/piramal-home-loan.html" title="Piramal Home Loan" target="_blank" aria-label="Piramal Home Loan">Piramal Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/indiabulls-home-loan.html" title="Indiabulls Home Loan" target="_blank" aria-label="Indiabulls Home Loan">Indiabulls Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/tatacap-home-loan.html" title="TataCap Home Loan" target="_blank" aria-label="TataCap Home Loan">TataCap Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/pnb-housing-finance-home-loan.html" title="PNB Housing Finance Home Loan" target="_blank" aria-label="PNB Housing Finance Home Loan">PNB Housing Finance Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/shriram-housing-finance-home-loan.html" title="Shriram Housing Finance Home Loan" target="_blank" aria-label="Shriram Housing Finance Home Loan">Shriram Housing Finance Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/aadhar-housing-finance-home-loan.html" title="Aadhar Housing Finance Home Loan" target="_blank" aria-label="Aadhar Housing Finance Home Loan">Aadhar Housing Finance Home Loan</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/bandhan-bank-home-loan.html" title="Bandhan Bank Home Loan" target="_blank" aria-label="Bandhan Bank Home Loan">Bandhan Bank Home Loan</a></li></ol></div></details></div></div><div class=" col-span-4"><div class="border bg-transparent hover:bg-transparent" data-testid="accordion-"><details name=":Rqkqcl:" class="px-2.5 py-2.5"><summary class="cursor-pointer block relative"><strong>Calculator <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ol class="list-disc list-outside ml-4 mr-4 "><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/emi-calculator.html" title="Home Loan Calculator" target="_blank" aria-label="Home Loan Calculator">Home Loan EMI Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan-eligibility.html" title="Home Loan Eligibility Calculator" target="_blank" aria-label="Home Loan Eligibility Calculator">Home Loan Eligibility Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan-balance-transfer.html" title="Home Loan Balance Transfer Calculator" target="_blank" aria-label="Home Loan Balance Transfer Calculator">Home Loan Balance Transfer Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/home-loan-prepayment-calculator.html" title="Home Loan Prepayment Calculator" target="_blank" aria-label="Home Loan Prepayment Calculator">Home Loan Prepayment Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/repayment-calculator.html" title="Home Loan Prepayment Calculator" target="_blank" aria-label="Home Loan Prepayment Calculator">Home Loan Repayment Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/land-calculator.html" title="Land Conversion Calculator" target="_blank" aria-label="Land Conversion Calculator">Land Conversion Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/home-loan-affordability-calculator.html" title="Home Affordability Calculator" target="_blank" aria-label="Home Affordability Calculator">Home Loan Affordability Calculator</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/pmay-subsidy-calculator.html" title="PMAY Subsidy Calculator" target="_blank" aria-label="PMAY Subsidy Calculator">PMAY Subsidy Calculator</a></li></ol></div></details></div></div><div class=" col-span-4"><div class="border bg-transparent hover:bg-transparent" data-testid="accordion-"><details name=":R12kqcl:" class="px-2.5 py-2.5"><summary class="cursor-pointer block relative"><strong>Home Loan Articles <span class="accordion-arrow absolute right-2.5"><svg xmlns="https://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-chevron-down"><path d="m6 9 6 6 6-6"></path></svg></span></strong></summary><div class="py-2.5"><ol class="list-disc list-outside ml-4 mr-4 "><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/top-housing-finance-companies-in-india.html" title="Top Housing Finance Companies In India" target="_blank" aria-label="Top Housing Finance Companies In India">Top Housing Finance Companies In India</a></li><li class=""><a class="inline-flex hover:underline no-underline " href="/home-loan/different-types-of-bank-loans-in-india.html" title="Types Of Bank Loans In India" target="_blank" aria-label="Types Of Bank Loans In India">Types of Bank Loans In India</a></li><li class=""><a 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If these plans are realized, it could boost the housing finance sector and increase investor interest in related stocks.\u0026nbsp;"},"type":"paragraph"},{"data":{"text":"Since the election results were announced on June 4, housing finance companies have seen a significant increase in their stock prices. Companies like LIC Housing Finance, Can Fin Homes, HUDCO, PNB Housing Finance, Home First, Aptus Value Housing, and Aavas Financiers have seen their shares rise by 46 percent, outpacing the Nifty 50's 12% increase.\u0026nbsp;"},"type":"paragraph"}],"title":"Number of houses allocated under PMAY is expected to rise "}]},"showUpdatedOn":false,"hungryForMore":[{"type":"image","data":{"float":"no-float","lazy":true,"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771","src":"https://static.bankbazaar.com/images/credit-core-asvg.svg","alt":"Check Free credit Score Now","width":230,"height":50,"title":"Check Free credit Score Now"}},{"type":"header","data":{"text":"Benefits of PMAY Urban Scheme:","level":2}},{"type":"paragraph","data":{"text":"Some of the main benefits\nof the PMAY Urban scheme are mentioned below:"}},{"type":"image","data":{"title":"PM Awas Yojana","alt":"PMAY","src":"https://static.bankbazaar.com/images/india/infographic/pradhan-mantri-awas-yojana.webp","lazy":true,"float":"right","width":400,"height":200}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eSubsidized\nInterest Rate\u003c/strong\u003e - Enjoy a low\n6.50% p.a. interest rate on housing loans for 20 years.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003ePriority for\nSpecial Groups\u003c/strong\u003e -\nDifferently-abled and senior citizens receive preferential ground floor\nallocations.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eEco-Friendly\nConstruction\u003c/strong\u003e - Sustainable\nand environmentally conscious technologies utilized in building.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003ePAN-India\nCoverage\u003c/strong\u003e - The scheme\nspans 4041 statutory towns, with initial priority given to 500 Class I cities\nin 3 phases.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eEarly\nCredit-Linked Subsidy \u003c/strong\u003e-\nImplementation of the credit-linked subsidy begins at the project's inception,\ncovering all statutory towns in India.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eWomen\nBeneficiaries:\u003c/strong\u003e Preference\nin given to women beneficiaries.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eDirect\nBenefit Transfer:\u003c/strong\u003e Under PMAY-U,\nfinancial assistance is provided via DBT. Therefore, fraud is reduced and funds\nwill be transferred to the beneficiary.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eOwnership\nTitle: \u003c/strong\u003eThe\nbeneficiary will be the legal owner of the property.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eReduction in\nSlums\u003c/strong\u003e: Slum dwellers will be provided\nalternate housing. This will reduce congestion and improve living conditions.","items":[]}]}},{"type":"image","data":{"float":"no-float","lazy":true,"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771","src":"https://static.bankbazaar.com/images/credit-core-asvg.svg","alt":"Check Free credit Score Now","width":230,"height":50,"title":"Check Free credit Score Now"}},{"type":"inline-banner","data":{"config":{"position":"HUNGRY_FOR_MORE","templateProps":{"imageAlt":"Credit score","imageHeight":120,"imageWidth":950,"imageUrl":"https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg","primaryUrl":"/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HL_CONTEXT\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HL_CONTEXT"},"template":"IMAGE","type":"INLINE_BANNER","name":"HL_INLINE_BANNER_DESKTOP"}}},{"type":"header","data":{"text":"Highlights of PMAY-U","level":2}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"type":"paragraph","data":{"text":"Official Website"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003ca href=\"https://pmaymis.gov.in/\" target=\"_blank\" rel=\"nofollow\"\u003ehttps://pmaymis.gov.in/\u003c/a\u003e"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Launch Date"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"25th June 2015"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Expected Completion"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"By 31 December 2024"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Toll Free Number"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"1800-11-6163 - HUDCO 1800 11 3377, 1800 11 3388 - NHB"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Complaints or Suggestion"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003ca href=\"mailto:grievance-pmay@gov.in\" target=\"_blank\"\u003egrievance-pmay@gov.in\u003c/a\u003e"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Office Address"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"Pradhan Mantri Awas Yojana Ministry of Housing and Urban Affairs Nirman Bhawan, New Delhi- 110 011 Contact: 011 2306 3285, 011 2306 0484 Email: pmaymis-mhupa@gov.in"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"PMAY Guidelines"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003ca href=\"http://pmaymis.gov.in/PDF/HFA_Guidelines/hfa_Guidelines.pdf\" target=\"_blank\" rel=\"nofollow\"\u003eClick to Download Manual\u003c/a\u003e"}}],"colspan":1,"rowspan":1,"highlight":false}]}]}},{"type":"cta","data":{"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_70771","linkText":"Check FREE Credit Score"}},{"type":"header","data":{"text":"Pradhan Mantri Awas Yojana Beneficiaries (PMAY)\u0026nbsp;","level":2}},{"type":"paragraph","data":{"text":"The beneficiaries under the PMAY scheme can be listed as follows:"}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"type":"paragraph","data":{"text":"Beneficiary"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"Annual Income"}}],"colspan":1,"rowspan":1,"highlight":true}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Middle Income Group I (MIG I)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.6 lakh to Rs.12 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Middle Income Group I (MIG II"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.12 lakh to Rs.18 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Lower Income Group (LIG)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.3 lakh to Rs.6 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Economically Weaker Section (EWS)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to Rs.3 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]}]}},{"type":"image","data":{"float":"no-float","lazy":true,"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771","src":"https://static.bankbazaar.com/images/credit-core-asvg.svg","alt":"Check Free credit Score Now","width":230,"height":50,"title":"Check Free credit Score Now"}},{"type":"paragraph","data":{"text":"In addition to these, people belonging to SC, ST, and OBC categories and women belonging to EWS and LIG income groups will also be eligible for the PMAY scheme."}},{"type":"paragraph","data":{"text":"\u003cstrong\u003eIdentification and Selection of Beneficiaries under PMAY\u003c/strong\u003e"}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eThe Pradhan Mantri Awas Yojana\u0026nbsp;(PMAY-Urban)\u0026nbsp;\u003c/strong\u003e- Urban schemes primarily target the housing needs of urban poor. Apart from this, the scheme also addresses the housing needs of slum residents living in narrow pockets of slums where infrastructure, sanitation and drinking water are poor. ","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003eBeneficiaries of PM\u0026nbsp;\u003c/strong\u003e\u003cstrong\u003ehousing scheme\u0026nbsp;\u003c/strong\u003e\u003cstrong\u003ePM housing scheme\u003c/strong\u003e mainly include Middle Income Groups (MIGs), Low-income Groups (LIGs), and Economically Weaker Section (EWS).\u0026nbsp;\u0026nbsp;","items":[]}]}},{"type":"paragraph","data":{"text":"While the beneficiaries from the EWS category are eligible for complete assistance under the scheme, beneficiaries from LIG and LIG categories are only eligible for the \u003ca href=\"https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojna-credit-linked-subsidy-scheme.html\" target=\"_blank\"\u003eCredit Linked Subsidy Scheme (CLSS)\u003c/a\u003e under PMAY."}},{"type":"paragraph","data":{"text":"In order to be recognised as a LIG or EWS beneficiary under the Scheme, the applicant is required to submit an affidavit as income proof to the authority."}},{"type":"header","data":{"text":"Key Highlights of PMAY Scheme","level":2}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"type":"paragraph","data":{"text":"Particulars"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"EWS"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"LIG"}}],"colspan":1,"rowspan":1,"highlight":true}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Eligible Housing Loan Amount"}},{"type":"paragraph","data":{"text":"for Interest Subsidy"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to Rs.6 lakh"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to Rs.6 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Maximum Loan Tenure"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"20 years"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"20 years"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Discounted Rate for Calculation"}},{"type":"paragraph","data":{"text":"of Net Present Value of Interest"}},{"type":"paragraph","data":{"text":"Subsidy"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"9.00%"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"9.00%"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Dwelling Unit Carpet Area"}},{"type":"paragraph","data":{"text":"(sq.m.)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to 30 sq.m."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to 60 sq.m."}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Duration of Scheme"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"17 June 2015 to 31 December 2024"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"17 June 2015 to 31 December 2024"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Applicability of No Pucca House"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Not for upgradation or renovation"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Woman Ownership/Co-"}},{"type":"paragraph","data":{"text":"ownership"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Not required for an existing property. Compulsory for a new acquisition."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Amount Paid in Lump Payment"}},{"type":"paragraph","data":{"text":"for Each Sanctioned Housing"}},{"type":"paragraph","data":{"text":"Loan application"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.3,000"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.3,000"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Quality of Flat/House"}},{"type":"paragraph","data":{"text":"Construction"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"BIS Codes, National Building Code, and according to the NDMA Guidelines adopted"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Approvals for the Building"}},{"type":"paragraph","data":{"text":"Design"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Basic Civic Infrastructure (water,"}},{"type":"paragraph","data":{"text":"electricity, sanitation, sewerage,"}},{"type":"paragraph","data":{"text":"road etc.)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Maximum Interest Subsidy"}},{"type":"paragraph","data":{"text":"Amount"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.2,67,280"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.2,67,280"}}],"colspan":1,"rowspan":1,"highlight":false}]}]}},{"type":"cta","data":{"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_70771","linkText":"Know your Credit Score for Free"}},{"type":"inline-banner","data":{"config":{"position":"HUNGRY_FOR_MORE","templateProps":{"imageAlt":"Credit score","imageHeight":120,"imageWidth":950,"imageUrl":"https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg","primaryUrl":"/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HL_CONTEXT\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HL_CONTEXT"},"template":"IMAGE","type":"INLINE_BANNER","name":"HL_INLINE_BANNER_DESKTOP"}}},{"type":"header","data":{"text":"Key Parameters of PMAY","level":2}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"type":"paragraph","data":{"text":"\u003cstrong\u003eParticulars\u003c/strong\u003e"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003cstrong\u003eMIG I\u003c/strong\u003e"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003cstrong\u003eMIG II\u003c/strong\u003e"}}],"colspan":1,"rowspan":1,"highlight":true}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Eligible Housing Loan Amount"}},{"type":"paragraph","data":{"text":"for Interest Subsidy"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to Rs.9 lakh"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Up to Rs.12 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Maximum Loan Tenure"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"20 years"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"20 years"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Dwelling Unit Carpet Area"}},{"type":"paragraph","data":{"text":"(sq.m.)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"160 sq.m."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"200 sq.m"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Maximum Interest Subsidy Amount"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.2,35,068"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.2,30,156"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Lump Sum Amount Paid for"}},{"type":"paragraph","data":{"text":"Each Sanctioned Housing Loan"}},{"type":"paragraph","data":{"text":"Application Instead of"}},{"type":"paragraph","data":{"text":"processing fee"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.2,000"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.2,000"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Discounted Rate for Calculation"}},{"type":"paragraph","data":{"text":"of Net Present Value of Interest"}},{"type":"paragraph","data":{"text":"Subsidy"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"9.00%"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"9.00%"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Duration of Scheme"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"1 January 2017 to 31 December 2024"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"1 January 2017 to 31 December 2024"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Woman Ownership/Co-"}},{"type":"paragraph","data":{"text":"ownership"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Not compulsory"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Not compulsory"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Applicability of No Pucca House"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Yes"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Yes"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Approvals for the Building"}},{"type":"paragraph","data":{"text":"Design"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Quality of House/Flat"}},{"type":"paragraph","data":{"text":"Construction"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"BIS Codes, National Building Code, and according to the NDMA Guidelines adopted"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Basic Civic Infrastructure (water,"}},{"type":"paragraph","data":{"text":"road, sanitation, sewerage,"}},{"type":"paragraph","data":{"text":"electricity etc.)"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Mandatory"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Income Proof to Claim Subsidy"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Self-Declaration"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Self-Declaration"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Identity Proof"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Aadhaar Card Number"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Aadhaar Card Number"}}],"colspan":1,"rowspan":1,"highlight":false}]}]}},{"type":"image","data":{"float":"no-float","lazy":true,"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771","src":"https://static.bankbazaar.com/images/credit-core-asvg.svg","alt":"Check Free credit Score Now","width":230,"height":50,"title":"Check Free credit Score Now"}},{"type":"header","data":{"text":"Types of PMAY Scheme","level":2}},{"type":"paragraph","data":{"text":"There are two sub-sections of the PMAY scheme which are divided on the basis of the area on which they focus: "}},{"type":"list","data":{"style":"ordered","items":[{"content":"\u003cstrong\u003ePradhan Mantri Awas Yojana Gramin\u003c/strong\u003e - The Pradhan Mantri Awas Yojana – Gramin (\u003ca href=\"https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana-gramin.html\" target=\"_blank\"\u003ePMAY-G\u003c/a\u003e) was previously known as the Indira Awas Yojana and was christened as PMAY-G in 2016. The scheme is aimed at the provision of affordable and accessible housing units to eligible beneficiaries in rural regions of India (excluding Chandigarh and Delhi)\u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp; Under this scheme, the Government of India and the respective state governments share the cost of development of housing units in the ratio of 60:40 for plain regions and 90:10 for North-Eastern and hilly regions.","items":[]},{"content":"\u003cstrong\u003ePradhan Mantri Awas Yojana Urban\u003c/strong\u003e - The Pradhan Mantri Awas Yojana – Urban (PMAYU), as the name suggests, is focussed towards the urban areas in India. At present, there 4,331 towns and cities which are enlisted under this scheme. The scheme is set to function under three different phases:","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003ePhase 1: \u003c/strong\u003eUnder Phase 1, the government targeted to cover 100 cities in different states and UTs across the country from April 2015 to March 2017.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003ePhase 2:\u003c/strong\u003e Under Phase 2, the government targeted to cover 200 more cities in different states and UTs across the country from April 2017 to March 2019.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003cstrong\u003ePhase 3:\u003c/strong\u003e Under Phase 3, the government targeted to cover the cities which have been left out in Phase 1 and Phase 2 and attain the target by the end of December 2024.","items":[]}]}},{"type":"header","data":{"text":"PMAY Interest Subsidy","level":2}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"type":"paragraph","data":{"text":"\u003cstrong\u003eParticulars\u003c/strong\u003e"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003cstrong\u003eInterest Subsidy\u003c/strong\u003e"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"\u003cstrong\u003eMaximum Loan for Subsidy\u003c/strong\u003e"}}],"colspan":1,"rowspan":1,"highlight":true}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"EWS"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"6.50% p.a."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.6 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"LIG"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"6.50% p.a."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.6 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"MIG -1"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"4.00% p.a."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.9 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"MIG-2"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"3.00% p.a."}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Rs.12 lakh"}}],"colspan":1,"rowspan":1,"highlight":false}]}]}},{"type":"inline-banner","data":{"config":{"position":"HUNGRY_FOR_MORE","templateProps":{"imageAlt":"Credit score","imageHeight":120,"imageWidth":950,"imageUrl":"https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg","primaryUrl":"/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HL_CONTEXT\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HL_CONTEXT"},"template":"IMAGE","type":"INLINE_BANNER","name":"HL_INLINE_BANNER_DESKTOP"}}},{"type":"header","data":{"text":"Pradhan Mantri Awas Yojana (PMAY) Subsidy Calculator","level":3}},{"type":"paragraph","data":{"text":"\u003cstrong\u003ePradhan Mantri Awas Yojana (PMAY)\u003c/strong\u003e scheme aims to simplify the process of purchasing a home for the urban poor and weaker sections of society through EMIs at reasonable rates of interest. The rate of interest is comparatively much lesser than commercial rates, thus offering people subsidised loans."}},{"type":"paragraph","data":{"text":"To calculate the \u003ca href=\"https://www.bankbazaar.com/home-loan/emi-calculator.html\" target=\"_blank\"\u003eEMI\u003c/a\u003e, log on to the Pradhan Mantri Awas Yojana website and fill in the following details: \u003ca href=\"http://pmaymis.gov.in/EMI_Calculator.aspx\" target=\"_blank\" rel=\"nofollow\"\u003ehttp://pmaymis.gov.in/EMI_Calculator.aspx\u003c/a\u003e"}},{"type":"list","data":{"style":"unordered","items":[{"content":"The total loan amount in rupees","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"The rate of interest","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"The total loan period in months","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Once the following details are submitted, click on the ‘Calculate’ option. This will give you the monthly installment or EMI payable in rupees. ","items":[]}]}},{"type":"header","data":{"text":"How to Get PMAY Interest Subsidy? ","level":3}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/home-loan.html\" target=\"_blank\"\u003eApply for a home loan\u003c/a\u003e from any listed lending institution asking for subsidy.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"The lending institution will review your application and you are eligible, your application will be sent to the Central Nodal Agency.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Upon verification, if your application is approved and no discrepancies are found, the Central Nodal Agency will disburse the subsidy amount to the lending institution.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"This amount will be credited to your account by the lending institution which will lower your total loan amount.","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"You can continue paying the EMIs towards the balance loan amount.","items":[]}]}},{"type":"header","data":{"text":"How to transfer PMAY Subsidy to the Borrower's Bank?","level":3}},{"type":"paragraph","data":{"text":"The bank from where the individual is taking the loan will claim the subsidy benefit for the eligible applicants from the National Housing Bank (NHB). The National Housing Bank will then check to investigate whether anyone is making multiple applications under the scheme. "}},{"type":"paragraph","data":{"text":"Once confirmed, the CLSS or subsidy amount will be given to the borrower's Bank. Once the amount is received, the money will be credited directly to the Loan Account."}},{"type":"cta","data":{"link":"/home-loan/subsidy-on-home-loan.html","prefix":"Check","linkText":"Understand Subsidy on Home Loan"}},{"type":"inline-banner","data":{"config":{"position":"HUNGRY_FOR_MORE","templateProps":{"imageAlt":"Credit score","imageHeight":120,"imageWidth":950,"imageUrl":"https://static.bankbazaar.com/images/interstitials/desktop-contextual-inline-banner-dsp.svg","primaryUrl":"/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HL_CONTEXT\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HL_CONTEXT"},"template":"IMAGE","type":"INLINE_BANNER","name":"HL_INLINE_BANNER_DESKTOP"}}},{"type":"header","data":{"text":"PMAY Loan Eligibility","level":2}},{"type":"paragraph","data":{"text":"The PMAY beneficiaries will be selected on the basis of the ‘The Socio economic and caste Census 2011’. The government will consult the panchayat and the tehsil before finalising the PMAY beneficiaries list. This will be done to ensure transparency in the project and to ensure that only the right people get the housing. "}},{"type":"paragraph","data":{"text":"\u0026nbsp;\u003cstrong\u003eLearn more about the\u003c/strong\u003e\u0026nbsp;\u003ca href=\"https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana-eligibility-criteria.html\" target=\"_blank\"\u003ePMAY Eligibility\u003c/a\u003e.\u0026nbsp;\u0026nbsp;"}},{"type":"header","data":{"text":"How to Apply for the PM Awas Yojana Online?\u0026nbsp;","level":2}},{"type":"paragraph","data":{"text":"You can \u003ca href=\"https://www.bankbazaar.com/home-loan/how-to-apply-pradhan-mantri-awas-yojana.html\" target=\"_blank\"\u003eapply for PM Awas Yojana (PMAY)\u003c/a\u003e through the PMAY portal. The PMAY application process is very straightforward and easy to use. All you need to do is enter your Aadhaar number. Follow the on-screen instructions and complete and submit the PMAY application form.\u0026nbsp;"}},{"type":"image","data":{"float":"no-float","lazy":true,"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_svg_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_svg_70771","src":"https://static.bankbazaar.com/images/credit-core-asvg.svg","alt":"Check Free credit Score Now","width":230,"height":50,"title":"Check Free credit Score Now"}},{"type":"header","data":{"text":"Urban PMAY\u0026nbsp;","level":3}},{"type":"list","data":{"style":"unordered","items":[{"content":"Visit the official PMAY portal.\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Click on the \u003cstrong\u003e‘Citizen Assessment’\u003c/strong\u003e option or the\u003cstrong\u003e ‘Apply Online’\u003c/strong\u003e option.\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Depending on your income group choose EWS/LIG/MIG.\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Enter all the requested details such as your personal information, Aadhaar number, income details, etc.\u0026nbsp;\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Submit your application.\u0026nbsp;","items":[]}]}},{"type":"paragraph","data":{"text":"Your application will be verified by the concerned authority. You can visit the PMAY portal to track the status of your application.\u0026nbsp;\u0026nbsp;"}},{"type":"header","data":{"text":"Rural PMAY\u0026nbsp;","level":3}},{"type":"list","data":{"style":"unordered","items":[{"content":"Visit the official website of PMAY Gramin.\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"On the main page, click on the ‘IAY/PMAYG’ option.\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Enter all the requested details such as your personal information, Aadhaar number, and bank account details.\u0026nbsp;","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"Submit your application.\u0026nbsp;","items":[]}]}},{"type":"paragraph","data":{"text":"Your application will be verified by the concerned authority. You can visit the PMAY portal to track the status of your application.\u0026nbsp;"}},{"type":"cta","data":{"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_70771","linkText":"Know your Credit Score for Free"}},{"type":"header","data":{"text":"How to check PMAY Application Status? ","level":3}},{"type":"paragraph","data":{"text":"To check the status of your PMAY application, you can simply log in to the official portal of \u003cstrong\u003ePradhan Mantri Awas Yojana \u003c/strong\u003eat \u003cstrong\u003ehttps://pmaymis.gov.in\u003c/strong\u003e. After that, you can just navigate to the tracking option and follow the on-screen directions to check the status of your application."}},{"type":"paragraph","data":{"text":"\u003cstrong\u003eHow to Edit Your Details After Submitting Application for PMAY\u003c/strong\u003e"}},{"type":"list","data":{"style":"unordered","items":[{"content":"Visit the official website of Pradhan Mantri Awas Yojana","items":[]},{"content":"Enter your application reference number and your Aadhaar details","items":[]},{"content":"Click on the “\u003cstrong\u003eEdit\u003c/strong\u003e” option","items":[]},{"content":"You will now be allowed to edit your application details","items":[]},{"content":"PMAY Resource:\u0026nbsp;PMAY Online Application Form","items":[]}]}},{"type":"header","data":{"text":"Phases of Pradhan Mantri Awas Yojana (PMAY)","level":3}},{"type":"paragraph","data":{"text":"\u003cstrong\u003eThe PMAY Scheme will be executed in three phases. Refer to the table below for more details:\u003c/strong\u003e"}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"type":"paragraph","data":{"text":"Stage"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"Phase 1"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"Phase 2"}}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"type":"paragraph","data":{"text":"Phase 3"}}],"colspan":1,"rowspan":1,"highlight":true}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Start date"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"04/01/15"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"04/01/17"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"04/01/19"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"End date"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"03/01/17"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"03/01/19"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"03/01/22"}}],"colspan":1,"rowspan":1,"highlight":false}]},{"cols":[{"content":[{"type":"paragraph","data":{"text":"Cities covered"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"100"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"200"}}],"colspan":1,"rowspan":1,"highlight":false},{"content":[{"type":"paragraph","data":{"text":"Remaining cities"}}],"colspan":1,"rowspan":1,"highlight":false}]}]}},{"type":"paragraph","data":{"text":"\u003cstrong\u003ePMAY Functions of Technology Sub-Mission\u003c/strong\u003e"}},{"type":"paragraph","data":{"text":"PM Awas Yojana Technology Sub Mission will cover following:"}},{"type":"list","data":{"style":"ordered","items":[{"content":"Better Habitat Designing \u0026amp; Planning of the Buildings ","items":[]},{"content":"Planning to Develop Environment Friendly Houses","items":[]},{"content":"Best Construction Practices","items":[]},{"content":"Arranging the Most Innovative Technologies","items":[]},{"content":"Picking the Most Suitable Materials","items":[]}]}},{"type":"header","data":{"text":"PMAY Customer Care Helpline Numbers","level":3}},{"type":"paragraph","data":{"text":"In case of any queries relating to the application process, interest rates and any other scheme related queries, customers can contact the toll free helpline number:"}},{"type":"list","data":{"style":"unordered","items":[{"content":"1800-11-6163 (Urban, HUDCO)","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"1800-11-3388 (Urban,NHB)","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"1800-11-3377 (Urban,NHB)","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"1800-11-6446 (Gramin)","items":[]}]}},{"type":"paragraph","data":{"text":"Those facing any issues related to the application process can contact the above\u003cstrong\u003e toll-free numbers\u003c/strong\u003e according to the locations."}},{"type":"cta","data":{"link":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_IL_HLBUTTON_70771\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_IL_HLBUTTON_70771","linkText":"Check Your Credit Score Now"}},{"type":"header","data":{"text":"Top 10 Banks offering Home Loans Under PMAY Scheme","level":3}},{"type":"paragraph","data":{"text":"Top 10 banks in India which offer loans under the PMAY scheme are listed below:"}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/bank-of-baroda-home-loan.html\" target=\"_blank\"\u003eBank of Baroda\u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/sbi-home-loan.html\" target=\"_blank\"\u003eState Bank of India\u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/axis-home-loan.html\" target=\"_blank\"\u003eAxis Bank \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/home-loan/idfc-bank-home-loan.html\" target=\"_blank\"\u003eIDFC First Bank \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/bandhan-bank-home-loan.html\" target=\"_blank\"\u003eBandhan Bank \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/bank-of-india-home-loan.html\" target=\"_blank\"\u003eBank of India \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/hdfc-home-loan.html\" target=\"_blank\"\u003eHDFC Bank \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/idbi-home-loan.html\" target=\"_blank\"\u003eIDBI Bank \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/punjab-national-bank-home-loan.html\" target=\"_blank\"\u003ePunjab National Bank \u003c/a\u003e","items":[]}]}},{"type":"list","data":{"style":"unordered","items":[{"content":"\u003ca href=\"/canara-bank-home-loan.html\" target=\"_blank\"\u003eCanara Bank\u003c/a\u003e","items":[]}]}},{"type":"sticky","data":{"config":{"type":"STICKY","templateProps":{"imageUrl":"https://static.bankbazaar.com/images/india/infographic/credit-score-top-sticky.svg","message":"A good credit score can help you secure lower interest rates on loans and credit cards.","ctaText":"Get Free Credit Score","primaryUrl":"https://www.bankbazaar.com/credit-score.html?variant=slide\u0026WT.mc_id=CROSS_SELL_HL_TOP_STICKY_DESKTOP\u0026utm_source=bb\u0026utm_medium=seo\u0026utm_campaign=CROSS_SELL_HL_TOP_STICKY_DESKTOP","imageWidth":66,"imageHeight":66,"imageAlt":"Free Credit Score"},"trigger":{"shouldHideOffTrigger":true,"element":"HUNGRY_FOR_MORE","event":"SCROLL"},"position":"TOP","template":"SINGLE_BUTTON_WITH_IMAGE","name":"ELIG_TOP_HL"}}},{"type":"sticky","data":{"config":{"template":"IMAGE","position":"RIGHT","trigger":{"event":"SCROLL","element":"HUNGRY_FOR_MORE","shouldHideOffTrigger":true},"templateProps":{"imageHeight":62,"imageWidth":213,"imageAlt":"Check your Eligibility","primaryUrl":"/home-loan.html?variant=slide\u0026amp;utm_source=bb\u0026amp;utm_medium=seo\u0026amp;utm_campaign=BB_sticky_floater","imageUrl":"https://static.bankbazaar.com/images/interstitials/desktop-hl-check-eligibility.png"},"type":"STICKY","name":"ELIG_RIGHT_HL"}}}],"faqs":{"title":"FAQs on Pradhan Mantri Awas Yojana – Urban 2024","items":[{"question":"How much time does it take to get the subsidy amount from PMAY?","answer":[{"type":"paragraph","data":{"text":"It usually takes around 3 to 4 months for the subsidy amount from PMAY to be credited to the beneficiary. This is subject to the verification process of the government."}}]},{"question":"How to get the Assessment ID for PMAY?","answer":[{"type":"paragraph","data":{"text":"The Assessment ID for PMAY is generated by the PMAY portal after an applicant successfully completes the registration process. This ID can be used to track the status of the application as well."}}]},{"question":"If I am a woman can I apply for this scheme?","answer":[{"type":"paragraph","data":{"text":"Yes, this scheme gives priority to women who are running a family within the lower income groups. However, if your husband, father or any other family member that you reside with has applied, your application will be rejected."}}]},{"question":"I am a senior citizen and fall under the local income groups? While the PMAY scheme seems financially viable, as an elderly person I would prefer a housing in the Ground Floor. What should I do?","answer":[{"type":"paragraph","data":{"text":"You simply need to apply as a senior citizen, since all senior citizens are provided the priority for having access to Ground floor housing. However, ensure that you apply early since the priorities among senior citizens for ground floor is also shared with differently abled beneficiaries as well."}}]},{"question":"How long will the PMAY project last?","answer":[{"type":"paragraph","data":{"text":"The PMAY project is supposed to last until 2024. But this is the date, which ensures that all the regions in India have beneficiaries, who can avail the scheme. The construction and ultimately the beneficiaries moving in may take longer."}}]},{"question":"What is the maximum annual income should I have to be eligible for PMAY?","answer":[{"data":{"text":"Your annual income should not be more than Rs. 18 lakh. However, there are no lower limits for the PMAY income requirement."},"type":"paragraph"}]},{"question":"What is a Central Nodal Agency when we are talking about PMAY?","answer":[{"data":{"text":"These are basically nodal agencies that are identified by the Ministry or Government to function as bodies which implement the Credit linked subsidy."},"type":"paragraph"}]},{"question":"What does one mean, by carpet area in lieu with Pradhan Mantri Awas Yojana?","answer":[{"type":"paragraph","data":{"text":"Area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls."}}]},{"question":"What is TDR or Transfer of Development Rights?","answer":[{"type":"paragraph","data":{"text":"This term simply ensures the availability of a particular amount that is additional on the built up with respect to the surrendered or relinquished area of land which allows the owner to use an added built-up area for himself/herself in some other land."}}]},{"question":"Can I apply if I do not have an Aadhaar Card?","answer":[{"type":"paragraph","data":{"text":"In order to apply online, it is mandatory for all citizens to have an Aadhaar Card. It is advised to get your Aadhar Number from the nearest Common Service Centers (CSC) as soon as possible."}}]},{"question":"Do I have to pay for the registration?","answer":[{"type":"paragraph","data":{"text":"You will only have to pay an application fee of Rs.25 plus service tax at the Common Service Centres. However, there are no charges levied if you are applying online."}}]}]},"metaTitle":"Pradhan Mantri Awas Yojana Urban 2024 - PMAY Scheme","showDateOn":{"metaTitle":false,"hungryForMore":true},"hideUserReviews":true,"hideOfferTable":true,"hideEligForm":true,"h1Title":"Pradhan Mantri Awas Yojana - Urban - PMAY(U)","metaKeyword":"PMAY-U, pmay scheme 2024, pradhan mantri awas yojana","metaDescription":"PMAYU- Learn about Pradhan Mantri Awas Yojana Urban (PMAY), its highlights, beneficiaries, and scheme types. Check eligibility \u0026 benefits now!\n","breadCrumb":{"otherLinks":[{"text":"Home Loan","link":"/home-loan.html"}],"currentPageText":"PMAY"},"topContent":[{"type":"paragraph","data":{"text":"The Ministry of Housing and Urban Affairs (MoHUA) introduced the \u003cstrong\u003ePradhan Mantri Awas Yojana – Urban (PMAY-U)\u003c/strong\u003e on June 25, 2015. The PMAY scheme aims to provide affordable housing to all eligible urban households."}},{"type":"paragraph","data":{"text":"The initiative aims to provide a pucca house to all eligible urban households by 2022 in order to address the lack of urban housing among the EWS/LIG and MIG categories, which includes those living in slums. The Union Cabinet has decided to extend\u0026nbsp;\u003cstrong\u003ePMAY(U)\u003c/strong\u003e\u003cstrong\u003etill 31 December 2024\u003c/strong\u003e.\u0026nbsp; \u0026nbsp;\u0026nbsp;"}}],"ogImage":{"src":"https://static.bankbazaar.com/images/india/infographic/pradhan-mantri-awas-yojana.webp","alt":"PMAY","title":"Pradhan Mantri Awas Yojana","width":400,"height":200,"lazy":true},"featuresEnabled":{"eligibility":false,"offer":false},"updatedOn":"21 Feb 2025","interLinks":{"asLeftNav":false,"items":[{"title":"Home Loans by Banks","items":[{"title":"SBI Home Loan","link":"/sbi-home-loan.html","text":"SBI Home Loan"},{"title":"Axis Home Loan","link":"/axis-home-loan.html","text":"Axis Home Loan"},{"title":"HDFC Home Loan","link":"/hdfc-home-loan.html","text":"HDFC Home Loan"},{"title":"Canara Home Loan","link":"/canara-bank-home-loan.html","text":"Canara Home Loan"},{"title":"PNB Home Loan","link":"/punjab-national-bank-home-loan.html","text":"PNB Home Loan"},{"title":"IDBI Home 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