Pradhan Mantri Awas Yojna (PMYA): Interest Subsidy on Housing Loans

Pradhan Mantri Awas Yojna (PMYA) Interest Subsidy on Housing Loans

Housing For All By 2022 is one of the gigantic projects initiated by the Govt. since Independence. The Govt. envisages to provide Houses to about 20 million (2 Crore) Urban Middle Income Group citizens. To make this holistic task a grand success in the real terms, the Govt. has launched PMAY (Pradhan Mantri Awas Yojna). Under the scheme, the Govt. is providing a subsidy on Housing Loan Interest so that the desired Middle Income Group citizens may acquire an affordable residential unit at a lower price. Ubber Golden Palms, Dera Bassi, 2 BHK & 3 BHK Apartments are fully covered under the Pradhan Mantri Awas Yojna (PMYA)”.
Mission “ Pradhan Mantri Awas Yojna (PMAY)-Housing For All By 2022”:
Housing needs are increasing day by day. The number of Rural & Urban poor without a house of their own is expected to touch new heights. The Govt. has been working since 2015 to cut down the number of Slum Housing & housing shortage by providing 20 million new residential units by 2022. The Govt. has taken up this gigantic task as a Mission and to accomplish this task, it has launched PMAY.
PMAY: Credit Linked Subsidy Scheme (CLSS)
Central Govt. is providing Interest Subsidy on Home Loan to the fresh buyers of houses. Under the Scheme, Urban families will be entitled to receive a subsidy on the Interest on Home Loan. (For more details, visit
Sr. No Category Annual Household Income- Rs. In lakhs Max. Unit Area Sq. Mtr Interest Subsidy Max. Subsidy Rs. In Lakh
1. EWS 3 30 6.5% 2.67
2. LIG 3 To 6 60 6.5% 2.67
3. MIG-1 6 To 12 90 4% 2.35
4. MIG-II 12 To 18 110 3% 2.30

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Post Author: Ashok Kumar

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