The Pradhan Mantri Awas Yojana is an initiative by the Government of India to aid the first-time home purchasers by providing them with subsidies over their home loan. This ‘housing for all’ scheme strives to provide 2 Crore affordable houses by Financial Year 2022.
To benefit from this flagship housing scheme, the applicants must comply with the Pradhan Mantri Awas Yojana eligibility criteria.
Take a look at the eligibility requirements –
General eligibility criteria
To be eligible for PMAY, the applicant must be a resident of India. Additionally, they must not own a ‘pucca’ residency anywhere in India. The applicant also cannot be a beneficiary of any housing-related Government scheme.
Income-based eligibility criteria
Based on income slabs, the beneficiaries are classified into 4 sections. These include –
EWS (Economically Weaker Section)
The annual household income must not exceed Rs. 3 Lakh.
LIG (Lower-income Group)
To qualify for LIG, the annual household earnings must be between Rs. 3 Lakh and Rs. 6 Lakh.
MIG 1 (Middle Income Group)
To qualify as a MIG 1 applicant, the annual household income must stand between Rs. 6 to 12 Lakh.
MIG2
The annual household earnings must be between Rs. 12 Lakh and Rs. 18 Lakh, to qualify as MIG 2 applicant.
Adhering to the Pradhan Mantri Awas Yojana eligibility criteria is crucial to qualify for the housing scheme and to avail home loan subsidy scheme.
If you have already applied for this housing scheme, you can check your name in the PM Awas Yojana List
