PMGY is a programme by Government of India to ensure “Housing for all by 2022’’. Under this, there is a Credit Linked Subsidy Scheme on home loans for properties in urban market belonging to Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group 1 & 2 (MIG). It can be availed for new or resale purchase of home, construction, or for extension or improvement of rooms, kitchen, toilet etc.



The eligibility is dependent on the income group you fall in.

Income Group
Annual Household Income
EWS
Up to  3 Lacs
LIG
 3.01 to  6 Lacs
MIG 1
 6.01 to  12 Lacs
MIG 2
 12.01 to  18 Lacs


For EWS and LIG, it is mandatory for a female to be the property owner. In certain exception cases, the lender may inform you. Also, the applicant or its dependents should be a first time home buyer and should not own a pucca property at the time of availing the scheme.

The subsidy offered is dependent upon the loan amount and the income group you fall in. Applicants with income up to  6 Lacs, can avail a maximum subsidy of 2.67 Lacs.
Applicants with income up to 12 Lacs, can avail a maximum subsidy of 2.35 Lacs.
Applicants with income up to 18 Lacs, can avail a maximum subsidy of 2.30 Lacs

Income Group
Subsidy on maximum Loan Amount
Interest Subsidy (%)
Maximum Subsidy Tenure
(In years)
Max. Subsidy amount
Up to  3 Lacs
 6 Lacs
6.5%
20
` 2.67 lacs
Above  3 Lacs up to  6 Lacs
 6 Lacs
6.5%
20
` 2.67 lacs
Above  6 Lacs up to  12 Lacs
 9 Lacs
4%
20
` 2.35 lacs
Above  12 Lacs up to  18 Lacs
 12 Lacs
3%
20
` 2.30 lacs



The documents required are very basic like:
     ·         KYC Documents & Photograph
     ·         Aadhar Card is mandatory
     ·         Salary slip or Certificate & updated bank statement for salaried applicants
     ·         Income Tax Returns of last two years and bank statement for self employed applicants
     ·         Self-certificate/affidavit as proof of income
     ·         Customer declaration undertaking
     ·         Additional Application form


You can visit any bank or housing finance company and enquire about the Pradhan Mantri Awas Yojana scheme.

Toll-Free Helpline Numbers

NHB: 1800-11-3377
          1800-11-3388

HUDCO: 1800-11-6163

Download Application Form