How to Check If You’re Eligible for the Pradhan Mantri Awas Yojana?

Eligibility Criteria for Pradhan Mantri Awas Yojana

Buying a house entitles you to save on lump sum rent expenditure, apart from giving you an asset that can secure your future. If you plan to buy your dream home using a home loan, you also need to save and pay for a hefty down payment. Further, repaying your home loan means abiding by the loan terms and paying the interest charged on your home loan as part of your EMIs. All this does not come easy on the pocket. However, in order to encourage home buyers, the government has made purchase of a home an affordable prospect vide the Pradhan Mantri Awas Yojana. Launched on 25th June 2015, this scheme offers interest subsidies on home loans, the percentage for which is determined based on your economic standing.

Pradhan Mantri Awas Yojana Eligibilty Criteria

Here is how you can check if you qualify for Pradhan Mantri Awas Yojana (PMAY).

Who can be the beneficiaries of this scheme?


Any individual who is at least 21 years of age can apply for a home loan under the PMAY scheme. However, as per the norms and mandates of the scheme, women, senior citizens, individuals who belong to the scheduled caste or scheduled tribe sect, and people belonging to the economically weaker section of the society are given priority as beneficiaries of the scheme.

Apart from that, you will have to understand the segment of PMAY for which you are eligible based on your area of residence. PMAY is categorized as:

  • Pradhan Mantri Awas Yojana (Urban) (PMAY-U) and Pradhan Mantri Awas Yojana (Gramin) (PMAY-G and also PMAY-R).
  • PMAY-U consists of three schemes, which are: EWS (Economically Weaker Sections)/LIG (Low Income Group), CLSS (MIG-I) and CLSS (MIG-II)

Key pointers to understanding your eligibility

In order to avail a home loan under the PMAY scheme, be sure to abide by the following Pradhan Mantri Awas Yojana Eligibility mandates. This will ensure you get a fast sanction on your application without facing a rejection.

  • To claim PMAY benefits you cannot be an existing homeowner.
  • The location of the house you choose must be one among the approved government listing of towns as per the 2011 census.
  • You must use the name of a female member of your family to register for the newly allotted house. The house can be registered solely or jointly in her name.
  • You should have a valid Aadhaar Card in order to avail Pradhan Mantri Awas Yojana scheme.

PMAY Eligibility basis your income category

Further, in order to qualify for the PMAY scheme, you will have to apply basis your income under the above mentioned three schemes. Here is a detailed explanation of each group.

PMAY Eligibility under EWS/LIG Scheme

  • Your household income should be within Rs.3-6 lakh per annum.
  • You are eligible to fund a home purchase under this scheme, which have a carpet area of 30 sq. mts. as an EWS beneficiary and 60 sq. mts. as a LIG beneficiary.
  • You are eligible to enjoy PMAY benefits for a maximum of 20 years on your loan tenor.
  • You should be 70 years old at the end of the repayment period.

PMAY Eligibility under CLSS (MIG-I) Scheme

  • Your household income should be within Rs.9-12 lakh per annum.
  • You can claim a subsidy of 4% on your home loan interest on a home loan of up to Rs.9 lakh. This means that if the lender approves a loan higher than that, then the extra amount will not be credit linked to the subsidy.
  • You are eligible to fund a home purchase under this scheme, which have a carpet area of 120 sq. mts.
  • You are eligible to enjoy PMAY benefits for a maximum of 20 years on your loan tenor.
  • You should be 70 years old at the end of the repayment period.

PMAY Eligibility under CLSS (MIG-II) Scheme

  • Your household income should be within Rs.12-18 lakh per annum.
  • You can claim a subsidy of 3% on your home loan interest on a home loan of up to Rs.12 lakh. This means that if the lender approves a loan higher than that, then the extra amount will not be credit linked to subsidy.
  • You are eligible to fund a home purchase under this scheme, which have a carpet area of 150 sq. mts.
  • You are eligible to enjoy PMAY benefits for a maximum of 20 years on your loan tenor.
  • You should be 70 years old at the end of the repayment period.

Armed with the key eligibility criteria for PMAY scheme apply for a Home Loan now with lenders like Bajaj Finserv to avail a quick and comfortable sanction on affordable and subsidized interest.

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